Foreign Exchange Market: The USD/MAD Pair Depreciates by 0.48% from December 1 to December 5

The recent depreciation of the USD/MAD pair by 0.48% from December 1 to December 5 is attributed to a negative basket effect of 0.45%. This was driven by the weakening of the dollar against the euro, along with a negative liquidity effect of 0.03%, indicating a slight tightening of dirham liquidity conditions, as explained by AGR in its latest report "Weekly Mad Insights - Currencies." In this context, liquidity spreads have eased by 3 basis points to -2.79% during this week. In the short term, this trend of tightening spreads is expected to continue gradually over the coming weeks.