Attijari Global Research (AGR) revised upwards its forecasts for the USD/MAD pair over 1, 2 and 3 months, taking into account the liquidity conditions of the dirham. The dirham should depreciate over the same horizons, against the euro.

In a recent note "MAD Insight-Currencies" relating to the week from January 21 to 28, AGR indicates that the national currency is rising against the US dollar at 1, 2 and 3 month horizons. The note specifies that against the euro, the dirham should depreciate over the same horizons. Against the euro, the dirham should depreciate by 0.2% over 1 month and should remain stable over the next 2 and 3 months. The EUR/MAD parity should reach 10.52, 10.50 and 10.50 at horizons of 1, 2 and 3 months.