Al-Maghrib Financial institution reported that the dirham fell 1.73 % in opposition to the euro and rose 1.89 % in opposition to the greenback between November 10 and 16, 2022.
The financial institution acknowledged in its newest weekly bulletin that there was no buying and selling on the trade market throughout this era.
The identical supply stated that official reserve belongings stood at AED341.2 billion on Nov. 11, up 0.4 % within the week and up 6.1 % yr on yr.
He harassed that Financial institution Al-Maghrib’s whole interventions throughout the identical interval amounted to AED104.8 billion, together with AED46.8 billion in 7-day advances based mostly on RFPs, AED31 billion in buyouts, and AED26.9 billion in long-term secured loans.
He famous that the common each day buying and selling quantity on the stage of the interbank market was 2.1 billion dirhams, and the rate of interest between banks throughout this era averaged 2 %, including that Al-Maghrib Financial institution pumped through the name to supply on November 16 the present (maturity November 17), a complete of AED 32.1 billion in advances for a interval of seven days.
And it was recorded that the MAZI index fell by 0.3 % on the inventory market, bringing its unfavourable indicator for the reason that starting of this yr to twenty.5 %.
He harassed that this weekly dynamics primarily displays a decline within the efficiency of the agri-food industries by 3.4 %, oil and gasoline by 2.2 % and distribution by 1.5 %, whereas the symptoms of the telecommunications and banking sectors rose by 1. 3 %. respectively 0.4% and 0.4%.
As for the full quantity of exchanges, it amounted to 699.1 million dirhams in opposition to 361.6 million dirhams every week earlier.