Moroccan Dirham Expected to Weaken Against Euro, Strengthen vs Dollar This Summer
The Moroccan currency should depreciate against the euro and appreciate against the US dollar over 1, 2 and 3 months, coinciding with the summer period. This is what the indicators published by Attijari Global Research (AGR) indicate.
In its recent note "Weekly Mad Insights — Currencies", AGR notes that the target levels of the EUR/MAD parity come out at 10.60; 10.67 and 10.56 at horizons 1, 2 and 3 months against a spot rate of 10.53.
Given the forecasts on the EUR/USD and the liquidity conditions of the interbank market, AGR has revised upwards its forecasts of the USD/MAD over the next 3 months, the same source specifies. The target levels of the USD/MAD parity come out at 10.00; 10.06 and 9.96 at horizons 1, 2 and 3 months against a spot rate of 10.13.
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