Macroeconomic Forecast Morocco

The Moroccan dirham appreciated by 5.57% against the dollar during the first five months of 2008 and stood at MAD7.3373/US$ at the time of writing. However, we continue to forecast a bounce in the dollar's value in the second half of the year. With the dirham closely tracking the movement of the euro, which is set to come down from its current highs, we are forecasting a year-end rate of MAD7.810/US$.

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