HomeEconomyThe dollar/MAD at a 7-month low

The dollar/MAD at a 7-month low

The USD/MAD pair fell from 10.20 to 10.18 for the week of January 23 to 27, 2023, indicates Attijari Global Research (AGR) in its latest note “Weekly Mad Insights – Currencies”.

Originally, a basket effect of -0.30% in favor of the dirham in connection with the fall in the dollar internationally, explains AGR, noting that the liquidity effect is weak at +0.06%.

Liquidity spreads remained almost stable at 2.8%, still reflecting a depreciation of the dirham against its benchmark basket, notes AGR, noting that they have moved away from the upper limit of the fixed dirham fluctuation band. at +5%.

For its part, the evolution of the EUR/USD pair remains very sensitive to the evolution of the economic context and to the decisions of the major central banks. “We recommend that importers in dollars reduce their hedging horizons in order to benefit from the favorable levels of the USD/MAD parity,” underlined the AGR analysts.

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