INTERNATIONAL HIGHLIGHTS
The upward trend of the USD/MAD parity continues on the foreign exchange market with an increase of +1.47% to 10.7430 this week, i.e. a highest since 2002.
The market effect comes out at +1.90% following a tightening of liquidity conditions on the interbank market.
We recall that this period coincides with the payment of the dividend from Maroc Telecom, owned by foreign shareholders by 53%. The basket effect is -0.43% due to the rise of the Euro internationally.
Despite the improvement in the foreign exchange position, which is moving into positive territory, liquidity
spreads show an increase of +193 PBS to 3.51% at the end of this week. This is due to larger import flows in recent weeks.
Fears of a gas shortage in Europe following the indefinite closure of the Nord Stream 1 gas pipeline are fueling increased currency volatility, particularly the EUR/USD pair.
Under these conditions, we advise investors to make greater use of products for hedging their foreign exchange risk on ST horizons.
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Sur le même thème
MAD Insights - september 9th, 2022
The Dirham depreciated this week against the Dollar because of a double basket-liquidity effect. The USD/MAD pair appreciated by +0.37% to 10.5870 in one week, its highest level seen since 2002.
MAD Insights - september 1st, 2022
The Dirham is depreciating this week against the Dollar in connection with the tightening of liquidity on the foreign exchange market.
MAD Insights - august 25th, 2022
The Dirham has weakened this week against the US Dollar, despite an improvement in the liquidity of the Moroccan interbank foreign exchange market.
