Research & Analysis

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.

The dirham depreciates for the third consecutive week against the dollar, following the uptrend of the greenback internationally. Thus, the pair USD/MAD stands at 9.20, an annual high.

The dirham is depreciating this week against the dollar given the greenback's bullish stance internationally.

Our interest in SNEP stock comes in an unprecedented international context marked by the sustainability of PVC prices at profitable levels rarely observed. During the last three quarters, the price of this product has remained above 1,700 $/T against less than 1,000 $/T historically.

A new cycle of growth is emerging. "Faithful" to a rather modest growth rate but without great volatility over the past decade, the Moroccan economy experienced a real departure from its trajectory with a recession in 2020 of -6.3%.