INTERNATIONAL HIGHLIGHTS
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%.
Dirham liquidity spreads improved this week by -12 BPS to 2.92%. The latter should continue their downward trend on the ST following the expected rebalancing of import and export flows.
Central banks are in the process of adapting their decisions based on macroeconomic data and the impact
of their monetary policy on inflation.
We recommend that dollar importers take advantage of the US dollar's downtrend so they can hedge at lower
levels.
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