AGR: Sharp increase in Treasury investments

Treasury investments rose sharply during the week of November 21 to 24, standing at 15.7 billion dirhams (MMDH), indicates Attijari Global Research (AGR).

In its latest “Weekly Hebdo Rate-Fixed Income” note, AGR points out that the money market remains balanced during the same period, due to the “increased interventionism” of the Central Bank through its main and longer-term operations. .

These, continues AGR, amounted to 98.5 billion dirhams, up by 8.3 billion dirhams compared to last week, thus satisfying all of the banking demand for liquidity.

In more detail, 7-day advances increased significantly by 18.8 billion dirhams to 50.9 billion dirhams, notes AGR, adding that at the same time, the amount of the repo delivered fell by 8.9 billion dirhams and guaranteed loan transactions were reduced by 1.5 billion dirhams.

Originally, the expiry of two lines for a total amount of 2.1 billion dirhams and the creation of a new line of 606 million dirhams, explains the same source, noting that the LT injections of BAM stood at 47.6 billion dirhams.

The weighted average rate (TMP) remains in line with the key rate at 2%, while MONIA rates stabilize around 1.92%.

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