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The Moroccan dirham (Arabic: درهم, romanized: dirham, Moroccan Arabic: درهم, romanized: derhem; sign: DH; code: MAD) is the official monetary currency of Morocco. It is issued by the Bank Al-Maghrib, the central bank of Morocco. One Moroccan dirham is subdivided into 100 santimat (singular: santim; Arabic: سنتيم).
De Facto Classification of Exchange Rate Arrangements, as of April 30, 2021, and Monetary Policy Frameworks [2]; Exchange rate arrangement (Number of countries) Exchange rate anchor
' Bank of Morocco ') is the central bank of the Kingdom of Morocco. It was founded in 1959 as the successor to the State Bank of Morocco (est. 1907). In 2008 Bank Al-Maghrib held reserves of foreign currency with an estimated worth of US$36 billion.
In some places there is a thriving street trade by unlicensed street traders in US dollars or other stable currencies, which are seen as a hedge against local inflation. The exchange rate is grossly more favourable to the seller of the foreign currency than is the official bank rate, but such trading is usually illegal.
Currency substitution is the use of a foreign currency in parallel to or instead of a domestic currency. [1]Currency substitution can be full or partial. Full currency substitution can occur after a major economic crisis, such as in Ecuador, El Salvador, and Zimbabwe.
The rial was introduced when Morocco adopted a modern style coinage in 1882. It replaced a system consisting of copper falus , silver dirham and gold benduqi . In Spanish Morocco , the rial was replaced by the Spanish peseta in 1912 at a rate of 1 rial = 5 pesetas.
He said the industry is likely to continue growing because Morocco's “integration rate” — the percentage of parts that carmakers can source domestically — has steadily risen to more than 65%.
Le Desk (Arabic: لوديسك) is an independent Moroccan digital news outlet that publishes in French and Arabic. [1] [2] [3] It was founded in 2014-2015 by Ali Amar as well as two other co-founders, Fatima-Zahra Lqadiri and Aziz Aouadi. [1] [4] [5] [6] Its headquarters are in the Mers Sultan neighborhood of Casablanca. [6]