Moroccan Dirham Set to Weaken Against Euro, Strengthen vs Dollar: Analysts Predict

Over the next three months, the dirham will remain on the rise against the dollar while it will fall against the euro over the same period. This is revealed by the forecast data from Attijari Global Research (AGR).
"Following the widening of liquidity spreads to their historic lows and in view of the depreciation movement of the dirham against the dollar in line with our scenario, we have slightly revised downward our forecasts on our forecast horizon," says AGR in its latest weekly note "Weekly MAD Insights - Currencies".
That said, over the first month, the Moroccan currency will appreciate by 0.8% against the dollar and depreciate by 0.7% against the euro. In month 2, the Moroccan currency will appreciate by 0.6% against the dollar and depreciate by 0.9% against the euro. And finally in month 3, it will appreciate by 0.8% against the dollar and depreciate by 0.7% against the European currency.
In terms of the USD/MAD parity, it could reach 8.84, 8.86 and 8.84 at the 1, 2 and 3 month horizons respectively, against an initial forecast of 8.86, 8.88 and 8.86 over the same periods.
The EUR/MAD parity should reach 10.70, 10.72 and 10.70 at the 1, 2 and 3 month horizons, against an initial forecast of 10.72, 10.74 and 10.72 over the same periods.
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