USD/MAD: The pair appreciates from December 30th to January 3rd

According to Attijari Global Research (AGR), the USD/MAD pair rose 0.13% to 10.1 in the week from December 30, 2024 to January 3, 2025. This development can be explained by a positive basket effect of 0.76% against the backdrop of the international strengthening of the dollar this week, as AGR indicates in its latest note “Weekly Mad Insights – Currencies”.

The market effect, in turn, was negative this week at -0.63% in favor of the dirham. Dirham liquidity spreads improved significantly to -1.42%.

However, the good development of export flows allowed these spreads to remain in negative territory, notes AGR, pointing out that tourist arrivals in Morocco reached a record 15.9 million tourists at the end of November 2024.

Considering the uncertainties and volatility of the foreign exchange market, AGR analysts recommend exporters to hedge their deals for a period of three months.