فاس نيوز ميديا جريدة الكترونية جهوية تعنى بشؤون و أخبار جهة فاس مكناس – متجددة على مدار الساعة
A report issued by Attijari Global Research (AGR) indicates that the exchange rate of the US dollar against the Moroccan dirham experienced a decrease of 0.72% during the week from September 16 to 20, dropping from 9.76 to 9.69 dirhams per dollar.
The weekly report published by the institution under the title “Weekly Mad Insights – Currencies” explained that this development is due to two main factors:
- Currency basket effect: Contributed -0.37% due to the depreciation of the dollar this week.
- Market effect: Reached -0.35% due to improved liquidity conditions in the interbank foreign exchange market in Morocco.
The report noted that liquidity spreads decreased by 35 basis points to reach -0.72% this week. However, these spreads are expected to follow an upward trend over the next three months with the gradual tightening of dirham liquidity following the end of the summer season.
In a related context, the report drew attention to recent monetary policy decisions:
- The US Federal Reserve decided to cut interest rates by 50 basis points in September, indicating the beginning of a new phase of monetary easing in the United States.
- The European Central Bank also lowered its deposit interest rate by 25 basis points to 3.50%.
Given the uncertainty about the future path of key interest rates, which depends on the economic and inflationary context, Attijari Global Research recommends importers reduce their coverage horizon to less than 3 months.
