INTERNATIONAL HIGHLIGHTS
The USD/MAD pair appreciated this week by +1.00% from 9.81 to 9.91.
This evolution is driven by a double positive effect. On the one hand, a basket effect of +0.54% related to the strengthening of the Dollar this week. The market effect also comes out positive at +0.46% in favor of the Dollar.
The liquidity spreads of the Dirham have thus tightened from +46 BPS to -0.15% this week. These spreads would follow an upward trend by the end of the year.
The foreign exchange market remains very sensitive to the evolution of the economic context and to the decisions of the Central Banks on their monetary policies.
Taking into account the new forecasts on the foreign exchange market, we recommend exporters to hedge their foreign exchange transactions over a 3-month horizon.
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