The money market is holding up well despite the fluctuations

The money market is holding up well despite the fluctuations

During the first week of August, the monetary sector proved to be remarkably stable, as evidenced by data recently released by Attijari Global Research. Between 4 and 10 August, the money market did not falter despite the economic vagaries.

The importance here lies with the sustained action of Bank Al-Maghrib (BAM). While interbank rates have hovered comfortably around 3%, BAM has certainly played a key role in maintaining them. For example, the MONIA rate, the reference indicator for the Moroccan interbank rate, fell slightly to 2.93%, a decrease of 2 basis points.

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BAM’s proactive approach is also reflected in its commitment to meeting all the needs of the banking industry. The proof is the decrease in advances for 7 days, which fell from 34.7 billion dirhams to 33.6 billion dirhams in a week. Worth noting, however, is the consistency with which BAM has committed guaranteed loans and delivered repos, with the amount holding steady at 65.8 billion dirhams since the start of the month.

In addition, special attention should be paid to treasury investments in the money market. These companies proved to be a stronghold of strength and remained close to their annual average. Specifically, the average current value, taking into account repos, fell slightly from 26.8 billion dirhams to 24.7 billion dirhams.

In short, this week of August showed remarkable resilience in the money market. Supported by solid institutions such as BAM and stable Treasury investments, the sector appears well equipped to meet the challenges ahead.

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