USAThis development is driven by a negative basket effect of -0.19%, combined with a larger liquidity effect of -0.28% in favor of the dirham, AGR notes in its recent ‘Weekly Mad Insights – Currencies’ note.
Liquidity spreads have narrowed by 28 basis points this week to a level of 1.08%. Originally, it was export flows that eased the liquidity situation in the interbank foreign exchange market.
Moreover, AGR indicates that at an international level, the recent acceleration of inflation, which deviates even further from the 2% target, is strongly fueling volatility in the foreign exchange market.
In this sense, AGR analysts recommend that importers reduce the coverage horizon of their dollar transactions.
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