A bank’s demand for money market liquidity was fully met through Al-Maghrib Bank (BAM) interventions during the week of November 27 to December 3, Atjari Global Research (AGR) notes in its weekly note “Weekly Weekly Rate”.
“The money market remains balanced this week due to the increased interventionism of the central bank through its core and long-term operations. “These are 112 billion dirhams (billion dirhams) versus 104 billion dirhams a week earlier, which satisfies the bank’s demand for liquidity,” the same source said.
The note also emphasizes that the weighted average rate (PMR) remains in line with the base rate of 1.5%, while the MONIA rates (average of the Moroccan index overnight), which are the average weighted rate of delivered repo transactions, are increased by 2 basis points to 1.43% in one week. In more detail, the 7-day advance is estimated at 47.5 billion marks, while long-term BAM injections remain stable in the money market.
In fact, redemption contracts, guaranteed loans and foreign exchange exchanges amount to 64.8 billion marks. As for cash surpluses, treasury investments with redemption contracts and vacancies, they fell sharply this week, to 9.4 billion marks compared to 11.3 billion marks a week ago.