Research & Analysis

Given the USD decline on the international foreign exchange market as well as the improvement in liquidity conditions in the domestic interbank compartment, we have witnessed a drop in the USD/MAD parity of -1.12 % at 9.90.

The rise of the single currency has supported the appreciation of the MAD against the dollar as the market effect was insignificant.

The USD/MAD parity is strengthening this week at 10.13. Originally, a significant basket effect for the MAD of +1.03% to which is added a liquidity effect of +0.40%.

At the end of this 20th edition, the investors' perception toward the Equity market over the coming 3 months has shifted from the "Assurance" phase to the "Wait and See" phase.

The USD/MAD parity is settling this week at 9.99. This is due to a basket effect for the MAD of -0.18% offset by a liquidity effect of +0.15%. The USD depreciated slightly by -0.03% against the dirham over one Week but remains at 2-year highs.

The USD/MAD pair crossed the 10 threshold for the first time in 2 years last thursday before closing the week at 9.99. The dirham depreciates against the USD for the 5th consecutive week.

The Dirham is depreciating this week against the EUR and the USD for the 4th week in a row. This is due to a restrictive liquidity effect of the MAD of +0.27% and a neutral basket effect.

and the USD. This is due to a restrictive liquidity effect for the MAD of more than +0.31%. This effect was larger than the basket effect. The USD/MAD and EUR/MAD pairs have increased by +0.54% and +0.16% respectively this week.

The MAD is depreciating this week against the USD. The USD/MAD pair evolves by +0.34%. The basket effect stands at +1.07%, offsetting the liquidity effect.