INTERNATIONAL HIGHLIGHTS
The MAD appreciates this week against the dollar.
The USD/MAD pair evolved by -0.95% going from 10.39 to 10.29 in one week.
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.
Dirham liquidity spreads thus fell by -44 BPS this week to 3.05%. In our view, this trend would reflect
expectations of lower import flows on the ST.
The EUR/USD pair remains mainly sensitive to expectations of Fed and ECB Interest Rate decisions.
We recommend that dollar exporters increase their hedging level against expected dollar volatility in the
coming weeks.
Read more.
Sur le même thème
MAD Insights march 22nd, 2023
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.
MAD Insights march 17th, 2023
The MAD is depreciating this week against the dollar. The USD/MAD pair increased by +0.45% from 10.39 to 10.44. This evolution is explained by a basket effect of +0.11% and a market effect of +0.34% related to the tightening of liquidity conditions for the dirham.
MAD Insights march 8th, 2023
The MAD appreciates this week against the dollar. The USD/MAD pair fell -0.14% from 10.41 to 10.39. This change is explained by a basket effect of -0.13% related to the appreciation of the euro this week.
