Research & Analysis

The USD/MAD pair is strengthening this week after a downward trend which began in mid-March. It rose by +0.87% from 9.99 to 10.07. This change is mainly explained by a basket effect of +0.67% related to the appreciation of the dollar combined with a positive market effect of the USD/MAD pair of +0.20%.

Following Maroc Telecom FY 2022 annual achievement and based on our discussions with the Management on April 11th 2023, we have updated our analysis as well as our stock's valuation.

The MAD is rising again this week against the Dollar. The USD/MAD dropped by -0.42% from 10.12 to 10.08 this week, i.e. a 3-month low.

The MAD appreciates for the 5th consecutive week against the Dollar. The USD/MAD pair fell -0.91% from 10.19 to 10.10 this week. This evolution is explained by a basket effect of -0.80% related to the appreciation of the euro and a liquidity effect of -0.11%.

The MAD appreciates for the 4th consecutive week against the Dollar. The USD/MAD pair fell -0.33% from 10.22 to 10.19 in one week. This change is explained by a basket effect of -0.22% related to the weakening of the dollar internationally and a positive liquidity effect of -0.11%.  

Following the release of FY 2022 annual results, we note 70 listed companies which have published their annual achievements.

The EUR/USD pair appreciated by +0.73% from 1.0760 to 1.0839. European stock market indices, particularly banking stocks, started to rise again this week.

The MAD appreciates this week against the dollar. This change is explained by a basket effect of -0.53% related to the fall in the dollar this week and a market effect of -0.42%. The latter reflects an improvement in the liquidity conditions of the dirham.  

The MAD appreciates this week against the dollar. The USD/MAD pair evolved by -0.45%, going from 10.44 to 10.39 in one week. This change is explained by a basket effect of -0.24% and a market effect of -0.21% related to a slight improvement in the liquidity conditions of the dirham.