APA-Rabat (Morocco) The Moroccan treasury launches two cash surplus investment schemes.
On Thursday, Morocco’s Department of the Treasury and External Finance (DTFE), which comes under the Ministry of the Economy and Finance, launched two cash surplus investment operations totalling 32.75 billion dirhams ($8.9 billion).
According to a DTFE statement seen by APA, the first operation involved a repo investment of MAD 32 billion ($8.7 billion) for a period of seven days at a weighted average rate of 2.99 percent.
The second transaction, also a repo investment, amounted to 750 million dirhams ($204 million) and was subscribed for one day at a weighted average rate of 2.5 percent.
Also known as a bond repurchase agreement, a repo is a contract enabling an institutional investor or a company to exchange its cash for financial securities for a fixed period, as described by Finance Club, a platform specialising in corporate finance.
AC/fss/as/APA
Moroccan treasury regulates cash surpluses
