Moroccan Dirham Strengthens Against US Dollar, Hits 3-Month High
The USD/MAD pair fell by 0.42%. The dirham is thus rising again against the dollar during the week of April 24 to 28. This is what the indicators published by Attijari Global Research (AGR) indicate.
In its recent note "Weekly Mad Insights – Currencies", AGR specifies that the USD/MAD pair went from 10.12 to 10.08 this week, i.e. a 3-month low. This development is mainly explained by a market effect of -0.40% linked to the improvement in MAD liquidity this week.
To read:
As for the basket effect related to this development, it was not very significant. Regarding the dirham liquidity spreads, they improved to 2.31%, i.e. a decrease of 42 BPS and should further continue their downward trend in the short term following the expected decline in import flows on the sidelines of the summer season.
In the short term, Attijari Global Research (AGR) recommends that dollar importers take advantage of the relatively low dollar levels by hedging against exchange rate risk.
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