2024-02-22 12:46:00
By LeSiteinfo with MAP
The dollar appreciated by 0.34% once morest the dirham to 10.07, during the week of February 12 to 16, according to Attijari Global Research (AGR).
“This development is explained by a double positive effect, on the one hand, the contribution of the basket effect stands at +0.08% following the strengthening of the Dollar, and on the other hand, the liquidity effect contributes up to of +0.26% to the disadvantage of the Dirham”, specifies AGR in its recent note “Weekly MAD Insights – Currencies.
Liquidity spreads tightened by +26 basis points (bps) this week, to a level of 1%. Originally, import flows which weighed on the liquidity of the Dirham this week.
Furthermore, AGR indicates that expectations for monetary easing from the Fed are currently uncertain. Expectations of a first rate cut are being pushed back beyond March and May.
And to continue that the main international brokers anticipate a slight appreciation of the Dollar compared to the Euro in the short term.
To this end, AGR experts recommend that importers hedge their operations in dollars over horizons of 2 to 3 months.
S.L.
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