The dirham should appreciate against the dollar over the next 1, 2 and 3 months, according to Attijari Global Research’s “Weekly Mad Insights – Currencies” note 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. Faced with 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, import and export flows should rebalance in CT, say 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.