INTERNATIONAL HIGHLIGHTS
The USD/MAD pair appreciated this week by +0.24%, from 10.06 to 10.09.
This variation is due to a double positive effect. The basket effect came out negative at -0.14% as the EUR/USD parity was almost stable this week. The market effect, for its part, is positive this week at +0.38%.
The liquidity spreads of the Dirham have tightened significantly by +38 BPS from -1.178% to -0.80%. However, the good performance of export flows maintained downward pressure on these spreads to remain in negative territory. The latter should readjust very slightly upwards over the next 3 months.
The election of Trump in the United States and the escalation of tensions between Russia and Ukraine are expected to significantly fuel volatility on the foreign exchange market.
Given the uncertainties and volatility of the foreign exchange market, we recommend importers to hedge their transactions over a 3-month horizon.
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