Morocco's Treasury places MAD 13.05 bln in cash surpluses

Morocco Invests MAD 13 Billion in Cash Surpluses

Treasury Department Leverages Repo Agreements and Overnight Blank Operations

Morocco's Treasury and External Finance Department (DTFE) strategically deployed MAD 13.05 billion in cash surpluses through five distinct investment operations on Thursday.

Repo Agreements Fuel Investment:

The DTFE utilized repo agreements, a short-term borrowing arrangement, for the majority of these investments:

• MAD 6 Billion Over 5 Days at 2.1%: The largest placement involved a repo agreement for MAD 6 billion with a maturity period of five days and an interest rate of 2.1%.
• MAD 2 Billion Over 7 Days at 2.27%: A separate repo agreement secured MAD 2 billion over a seven-day term, carrying a slightly higher interest rate of 2.27%.
• MAD 2.6 Billion Over 5 Days at 1.91%: Another repo agreement with a five-day maturity fetched MAD 2.6 billion at an attractive 1.91% interest rate.

Short-Term Borrowing for Efficient Cash Management:

Rounding out the DTFE's investment strategy, they placed:

• MAD 1.3 Billion Over 1 Day at 1.75%: A one-day repo agreement secured MAD 1.3 billion with a modest interest rate of 1.75%.
• MAD 1.15 Billion Overnight Blank Operation at 2.25%: Finally, an overnight blank operation mobilized MAD 1.15 billion at an interest rate of 2.25%.

These strategic investments highlight the DTFE's commitment to efficiently managing Morocco's cash surpluses while generating returns in a fluctuating economic landscape.