INTERNATIONAL HIGHLIGHTS
The USD/MAD pair continues to follow its uptrend thus reaching a new high of 20 years at 10.8089.
Originally, a double restrictive Basket/Market effect for the MAD of respectively +0.49% and +0.12%. To this end, liquidity spreads posted an increase of +12.4 BPS to 3.63% at the end of this week, reflecting operators' expectations of substantial import flows over the short run.
For its part, the banking foreign exchange position is strengthening to a level superior to MAD 5 Bn on average per week, i.e. a one-year high according to the latest data published by Bank Al-Maghrib.
Investors are watching monetary policy decisions by the Fed and the ECB very closely, fueling intense volatility
in the currency markets.
We advise investors to reduce their hedging horizons.
Read more.
Sur le même thème
MAD Insights - september 16th, 2022
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.
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.
