INTERNATIONAL HIGHLIGHTS
During the last auction session in the interbank foreign exchange market, Bank Al-Maghrib did not carry out any transactions on the MAD. Originally, the decrease of the bank's foreign exchange position. This posted a decline from 3.1 to MAD 0.37 Bn on a weekly average.
The MAD's liquidity spreads widen by -4 PBS to -4.78%, i.e. one of the highest levels observed during H2-21. In the end, the MAD appreciates this week against the greenback by 0.08% to 9.05.
In a context of high volatility of the EUR/USD parity and taking into account the current liquidity conditions on the local foreign exchange market, we recommend our investors to adopt "flexible" hedging strategies.
To this end, we recommend that exporters initiate hedging operations on the MAD.
Please find the outlook for the Dirhams and other currencies in AGR’s latest MAD Insights publication.
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