The dirham appreciated against the dollar during the week from March 27 to 31, with the USD/MAD pair rising from 10.29 to 10.22, according to Attijari Global Research (AGR).
This change is explained by a basket effect of -0.81% linked to the sharp rise in the euro this week and a market effect of +0.10%, specifies AGR in its recent note “Weekly Mad Insights – Currencies “.
Dirham liquidity spreads appreciated by +10 basis points (bps) this week to 3.15%, AGR reports, forecasting a slight decline in the latter in the short term (ST) due to the rebalancing of import flows. and export.
The EUR/USD pair remains mainly sensitive to Fed and ECB monetary policy expectations. These expectations are linked to the evolution of the inflation rate.
Faced with the central banks’ return to focus on inflation, AGR recommends dollar importers to hedge their operations on the very CT.