فاس نيوز ميديا جريدة الكترونية جهوية تعنى بشؤون و أخبار جهة فاس مكناس – متجددة على مدار الساعة
The dollar/dirham pair appreciated by 0.31% at the end of March 2025, according to Attijari Global Research (AGR).
This development results from a positive basket effect in favor of the dollar of 0.35% and a negligible market effect (-0.04%), AGR indicates in its recent note “Weekly Mad Insights – Currencies.”
According to the same source, dirham liquidity spreads eased by -3.9 basis points (bps) to -3.06%, the lowest level since February 2022.
The dirham has been appreciating against its reference basket since the summer period. Indeed, dirham liquidity spreads have continued their downward trend since summer 2024, supported by export flows that are larger than import flows.
The tariffs of the new Trump administration continue to put pressure on the dollar, AGR notes, expecting new reciprocal tariffs, but their scope remains uncertain.
As a result, significant volatility is expected in currencies, according to AGR analysts, who recommend that operators hedge their transactions over horizons of 1 to 3 months.
