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The dirham should gain in value against the dollar, H24info

The dirham should appreciate over the next 3 months against the dollar, according to the “Weekly Mad Insights – Currencies” note from Attijari Global Research, which covers the period from 05 to 09 September.

“Given the updating of the forecasts for the EUR/USD parity and the liquidity conditions on the foreign exchange market, we have revised our forecasts for the USD/MAD upwards. Faced with the spot rate, the MAD should depreciate on a 1-month and 2-month horizon and appreciate on a 3-month horizon against the dollar,” says AGR.

Taking into account the end of the summer season, AGR analysts are anticipating significant currency outflows in connection with the rise in dividends abroad. Within 3 months, import and export flows should be rebalanced.

The target levels of the USD/MAD parity stand at 10.81, 10.81 and 10.70 at horizons of 1, 2 and 3 months, against a spot price of 10.74. Against the euro, the dirham should appreciate over the next 1 month, 2 months and 3 months. The target levels of the EUR/MAD parity stand at 10.5, 10.5 and 10.4 at horizons of 1, 2 and 3 months, against a spot rate of 10.81.


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