Moroccan Dirham Strengthens Against Dollar, Weakens vs Euro

This increase is explained by a basket effect of -0.81% linked to the strong rise of the euro this week, as well as a market effect of +0.10%, AGR specifies in its weekly note "Weekly Mad Insights - Currencies".

The appreciation of the dirham’s liquidity spreads by +10 basis points (bps) to 3.15% this week was also highlighted by AGR, which expects a slight decrease in the latter in the short term due to the rebalancing of import and export flows.

The EUR/USD pair is mainly sensitive to expectations of the monetary policy of the US Federal Reserve (Fed) and the European Central Bank (ECB), closely linked to the evolution of the inflation rate.

Faced with the central banks’ renewed focus on inflation, Attijari Global Research recommends that dollar importers hedge their short-term operations.