The average banking liquidity deficit in Morocco eased to 146.2 billion dirhams (MMDH) during the week of July 11 to 17, according to BMCE Capital Global Research (BKGR).
This improvement comes as Bank Al-Maghrib’s (BAM) 7-day advances increased to 58.6 MMDH, BKGR stated in its recent “Fixed Income Weekly” note. At the same time, Treasury placements rose, with a daily maximum balance of 22.6 MMDH recorded on July 15, compared to a previous daily maximum balance of 19.7 MMDH.
Under these conditions, the weighted average rate (TMP) stabilized at 2.75%, while the Moroccan Overnight Index Average (MONIA), which is the overnight benchmark rate based on repurchase transactions with Treasury bonds as collateral, rose to 2.712%.
