
MAD Insights September 22nd 2023
The USD/MAD pair is on the rise again and shows an increase of +1.08% to 10.26, a 5 months high. At the origin of this evolution, a double positive effect.
Morocco Key Rate Expectations - Sept 2023
During our survey conducted in September, we identified investors' expectations regarding the evolution of the Moroccan central bank’s key rate during its 3rd monetary policy meeting scheduled on September 26th 2023..

MAD Insights September 15th 2023
The upward trend in the USD/MAD parity was interrupted this week with a drop of -0.14% to 10.1535, the first time since the end of July 2023.

MAD Insights September 8th 2023
The Dirham is depreciating this week against the Dollar following a double basket-liquidity effect. The USD/MAD appreciated by +0.54% to 10.17 in one week, its highest level since the beginning of June 2023.
Listed companies results Q2-23
During the 2nd quarter of 2023, listed companies' achievements took place in a context marked by a slowdown in the inflation level in Morocco. The latter fell from a high of 10.1% in February to 5.5% in June 2023.

MAD Insights september 1st, 2023
USD/MAD appreciated by +1.24% from 9.99 to 10.11 this week. The Dollar is thus appreciating for the 4th consecutive week to go back above MAD 10 for the first time since June. The evolution of the EUR/USD pair remains mainly dependent on the monetary policy decisions of the Fed and the ECB. [...]
AGR House View-August 2023
The orientation of the stock market in recent years confirms, in our opinion, its high sensitivity to bonds. In 2022, the bullish reversal of the yield curve in Morocco was accompanied by an annual underperformance of the MASI index of -20%.

MAD Insights august 25th, 2023
The USD/MAD appreciated this week by +1.05% from 9.88 to 9.99. The Dollar thus appreciated for the 3rd consecutive week to reach a high since the end of last June.

MAD Insights august 18th, 2023
The USD/MAD increased by +0.75% from 9.81 to 9.88.The Dollar thus appreciated for the 2nd consecutive week to reach a high since the end of last June. Despite this increase, these spreads should continue to fall during the month of August, supported by workers’ remittances during the summer period.