The Moroccan dirham dropped against the US dollar (USD) during the week of August 22-26, as liquidity tightened in the foreign exchange market, according to Attijari Global Research (AGR).
The USD/MAD exchange rose by 1.60% to 10.5477 during the same week, said AGR in its recent note on weekly MAD Insights – Currencies, noting that the market effect alone has contributed to more than 80% of this evolution.
The basket effect also rose by +0.29% following the strong appreciation of the greenback, added the same source.
“Consequently, we have seen the return of liquidity spreads in the positive zone, an increase of 131 basis points to 1.29% reflecting the tightening of liquidity on the Moroccan interbank foreign exchange market, “said the same source.
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