The dirham should appreciate against the dollar over the next 1, 2 and 3 months, according to the note ” Weekly Mad Insights – Currencies by Attijari Global Research for the period from September 12 to 16.
” Due to the liquidity conditions on the foreign exchange market, we have revised downwards our forecasts of the USD/MAD at horizons 1 and 2 months. Against the spot rate, the MAD should appreciate against the dollar over the next 1, 2 and 3 months“, says AGR.
Taking into account the end of the summer season, and pending the end of dividend increases abroad, we believe that import and export flows should rebalance in CT, according to AGR analysts.
The target levels of the USD/MAD parity stand at 10.75, 10.75 and 10.70 at horizons of 1, 2 and 3 months against a spot price of 10.81. 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 10.45, 10.45 and 10.40 at horizons of 1, 2 and 3 months against a spot price of 10.79.