AGR House View - January 2023
In this first edition of the AGR House View, we looked at recent developments within the Moroccan stock market as well as the signals which would argue in favor of a new paradigm starting from 2023.
MAD Insights - january 26th, 2023
The dirham is depreciating this week against the dollar. The USD/MAD pair thus rose from 10.07 to 10.20, an increase of +1.35%.
MAD Insights January 19th, 2023
The EUR/USD pair appreciated this week by +1.75%, rising from 1.0644 to 1.0830, its highest since April 2022.
MAD Insights - january 6th, 2023
The dirham continues to appreciate against the dollar, going from 10.50 to 10.45. We recall the MAD reached an annual peak of 11.1 in September. The USD/MAD pair finally ended the year 2022 up 12.6%.
MAD Insights december 23rd, 2022
INTERNATIONAL HIGHLIGHTS The EUR/USD pair appreciated this week by +0.44%, rising from 1.0540 to 1.0586, a 6-month high. US inflation slowed in November to 7.1% below expectations of 7.3%.
Morocco Key Rate Expectations - Dec. 22
During our survey conducted in December, we identified investors' expectations regarding the evolution of the Moroccan central bank key rate during its 4th and last monetary policy meeting in 2022.
MAD Insights - december 15th, 2022
The USD/MAD pair fell for the 5th consecutive week by -0.07% to 10.55 this week. This is above a than 3-month low.
MAD Insights - december 9th, 2022
USD/MAD fell for the 4th consecutive week by -1.08% to 10.56 this week, at a 3 month low. This is due to a negative basket effect of -0.72% following the correction of the Dollar and a liquidity effect of -0.36% in favor of the MAD.
Listed companies' results Q3-22
On the macro-economic level, the 3rd quarter of 2022 was marked by the persistence of inflationary tensions in Morocco with an average level of 8.0%, the downward revision of GDP growth forecasts to 0.8% for the year 2022 and the raising by Bank Al-Maghrib of its Key Rate by 50 PBS to 2.0%.
