The USD/MAD exchange rate rose by 1.06% during the week of November 11-15, climbing from 9.88 to 9.98, its highest level in five months, according to Attijari Global Research (AGR).
This increase was largely driven by a 1.22% positive basket effect, linked to the US dollar’s strengthening against the euro. AGR’s “Weekly Mad Insights – Currencies” report noted that the market effect was minimal at -0.16%, slightly favoring the dirham.
Liquidity spreads for the dirham narrowed by 16 basis points, reaching -1.03% for the week. Strong export flows helped keep these spreads in negative territory despite the end of the summer season. However, AGR anticipates a gradual upward adjustment in spreads over the next three months.
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