About the Moroccan Dirham
The Dirham was reintroduced in 1960, replacing the Moroccan franc as the main unit of currency.
The name 'Dirham' is derived from the Greek coin, the 'drachma'.
Interesting Facts
A Royal Currency
All Moroccan banknotes feature a portrait of the current monarch, King Mohammed VI, and often his father, King Hassan II.
A Bridge to Africa
Morocco's economy is one of the most diversified in the region, with strong tourism, agriculture, and manufacturing sectors, and growing investment across Africa.
Managed Peg
The Dirham's value is managed against a basket of currencies, primarily the Euro and the U.S. Dollar, reflecting Morocco's main trading partners.
Historical Timeline
Morocco gains independence from France.
The Dirham is reintroduced.
Morocco begins a gradual transition from a fixed peg to a more flexible exchange rate regime.
Denominations
Banknotes
Coins
Security Features
Quick Facts
- ISO Code
- MAD
- Symbol
- د.م.
- Numeric Code
- 504
- Subunit
- Centime (1/100)
- Introduced
- 1960-01-01
Central Bank
- Name
- Bank Al-Maghrib
- Headquarters
- Rabat, Morocco
- Founded
- 1959
- Current Governor
- Abdellatif Jouahri (since 2003)
Economic Data
- Reserve Currency Share
- 0.0%
- Forex Volume Share
- 0.0%
- Inflation Rate
- 0.4%
- Interest Rate
- 3.00%
Exchange Rates
Used In
What Affects the MAD Exchange Rate?
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