Research & Analysis

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.

During FY 2021, listed companies annual results were relatively expected by investors, after a less favorable year 2020 marked by the negative repercussions of the health crisis.

The Dirham appreciates this week against the Dollar and the Euro. The EUR/MAD and USD/MAD parities thus fell by -1.34% and -1.10% respectively.

The USD/MAD parity rose by +0.21% to 9.70 this week, a 20-month high. At the origin of this depreciation of the MAD, a double positive basket/liquidity effect of +0.04% and +0.17% respectively.

After a decline of -1.0% in H1-21, Label Vie recorded an important recovery in its activity in H2-21 of +14.2%. In this context, the Group's consolidated revenue rose by +6.8% in 2021 to MAD 11,758 Mn.

The depreciation of the Dirham against the Dollar continues this week with an increase in the parity of +1.07% to 9.52. This is a 19-month high.

In a context marked by a growth of the Moroccan economy of +4.9% in Q4-21 against a decline of -6.0% during the same quarter of the previous year, listed companies continue to improve their results .