INTERNATIONAL HIGHLIGHTS
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%.
Dirham liquidity spreads fell -12 BPS this week to 3.04%. These spreads should continue to decrease on the ST due to the expected improvement in export flows.
Volatility continues to reign in the forex market. These uncertainties are related to the evolution of inflation and
the expectations of the monetary decisions of the major central banks.
We recommend that dollar importers take advantage of the continued weakening of the dollar by reducing their
exposure to hedging transactions on the very ST.
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