Research & Analysis

In this Research Paper, we focused on the evolution of the valuation multiples of the Banks index and the MASI index over the period 2010-2024E.

Akdital's capital increase of MAD 1.0 Bn is a continuation of its development model which is mainly “growth” focused. [...]

The USD/MAD pair depreciated this week by -0.22% to 9.97 compared to 9.99 a week earlier.At the origin of this development, a positive basket effect of +0.03% linked to the low volatility of the EUR/USD parity this week. The market effect, for its part, came out negative at -0.25% in favor of the dirham.

During our recent survey, we identified investors' expectations regarding the evolution of the Moroccan Central Bank Key rate during its second monetary policy meeting scheduled for June 25th, 2024.

EUR/USD depreciated this week to 1.0801 from 1.0848 the previous week.

During this 1st quarter of 2024, the activity of listed companies evolved within a general context marked by: (1) The decline in inflation to 1.2% on average, (2) Unfavorable weather conditions leading to a contraction of Crop Value Added by -3.9%, (3) The announcements of several pro-jects within the framework of AFCON 2025, the World Cup 2030, th [...]

The Dollar depreciated against the Dirham this week to 10.03 against 10.06, i.e. a variation of -0.33%.This evolution is explained by a double negative. On the one hand, a liquidity effect of -0.24%, which led to an appreciation of the Dirham against several foreign currencies this week.

For this edition of the AGR House View, we focus on the virtuous circle of resilience on which Morocco will rely to achieve its  strategic objectives. In fact, the post-Covid experience reveals that resilience can also trigger virtuous cycles to the benefit of some countries.

The Dollar depreciated against the Dirham this week to 10.06 against 10.12, a variation of -0.54%.This evolution is explained by a basket effect of -0.21% related to the depreciation of the Dollar this week and a liquidity effect of -0.33% in favor of the Dirham.