Research & Analysis

The Dirham appreciated this week against the Dollar at 9.21, i.e. a negative performance of -0.83% of the USD / MAD.

The Dirham continues to depreciate against the Dollar this week at 9.29 by a weekly performance for the first week of 2022 of +0.06%.

The MAD depreciated this week against the greenback in a foreign exchange market marked by significant import flows at the end of the year. The banks foreign exchange position was in negative territory at MAD -3.6 Bn, thus bringing the liquidity spreads to their highest since the end of April 2021.

In Tunisia, the Finance Act Draft (FAD 2022) was unveiled1 in a difficult economic context. Indeed, Tunisia faces real budgetary constraints which raise a certain number of questions about the actions to be taken to start, on a better basis, this new fiscal year.

The liquidity spread of the dirham, which represents the difference between the reference price of the MAD and its central price, is reduced by +0.7 PBS. It stands this week at -4.23%, a 7-month high, stable from the previous week.  

The liquidity spread of the Dirham, which represents the difference between the reference price of the MAD and its central price, is reduced by 21.8 BPS. This week, the spread stands at -4.23%, a low over the last six months, against -4.45% a week earlier.

The Dirham has appreciated this week against the Dollar after four successive weeks of MAD depreciation. Indeed, the pair USD/MAD stands at 9.23, a decrease of -0.17% during the past week.

The operational achievements of listed companies in the third quarter of 2021 took place in a favorable economic and stock market context.

The MAD depreciates for the fourth week in a row against the dollar, given a restrictive market effect. This week, we saw a significant drop in liquidity conditions on the interbank market.