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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).
UAE dirham [8] AED United Arab Emirates: AED [9] Moroccan dirham: MAD Morocco: DH Djiboutian franc: DJF Djibouti: Fdj Egyptian pound: EGP Egypt £E or ج.م or L.E. Lebanese pound [10] LBP Lebanon £L and ل.ل [10] [11] Sudanese pound: SDG Sudan: SDG or ج.س Syrian pound [12] SYP Syria £S [13] Omani rial [14] OMR Oman: ر.ع [15] Qatari ...
The Moroccan Dirham has been historically pegged to a basket of currencies including the Euro and the US Dollar. In 2015, the Central Bank updated the weights of the peg to 60% for the Euro and 40% for the US dollar, against respectively 80% and 20% previously, to better reflect the current structure of foreign trade of the country. [54]
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.
The dirham was a unit of mass used across North Africa, the Middle East, Persia and Ifat; later known as Adal, with varying values. The value of Islamic dirham was 14 qirat. 10 dirham equals 7 mithqal (2.975 gm of silver). In the late Ottoman Empire (Ottoman Turkish: درهم), the standard dirham was 3.207 g; [1] 400 dirhem equal one oka.
Morocco Sûreté Nationale: First issued: 15 February 1977 (law signed) 2020 (new-generation electronic cards) Eligibility: Moroccan nationals (mandatory at age 16, optional for minors) Expiration: 10 years: Cost: 75 dirham (US$7.35, for adults and minors over age 12) 50 dirham (US$4.90, for minors under age 12) Website: cnie.ma
The 2001 Census recorded 12,348 Moroccan-born people residing in the UK. [2] 2009 estimates reported by the Runymede Trust suggested between 65,000 and 70,000 people of Moroccan origin reside in the UK. [3] The Office for National Statistics estimates the Moroccan-born population to have been 34,000 in 2015. [4]
[2]: 32 Foreign coins began to flood the Moroccan market, the Makhzen allowed them to be used as legal tender, and locally minted coins began to lose value against them. [2]: 32 Attempting to stabilize the currency, Sultan Muhammad minted a silver muhammadi dirham (درهم محمدي) with a fixed exchange rate with bronze coins.