Moroccan dirham

Moroccan dirham
الدرهم المغربي (Arabic)
ISO 4217
CodeMAD (numeric: 504)
Subunit0.01
Unit
SymbolDH
Denominations
Subunit
120rial (informal)
1100santim (official)
franc (informal)
Plural
santim (official)
franc (informal)
santimat
Banknotes20, 50, 100, 200 dirhams
Coins10, 20 santimat, ½, 1, 2, 5 & 10 dirhams
 Rarely used1 santim, 5 santimat
Demographics
ReplacedMoroccan franc
User(s) Morocco
Issuance
Central bankBank Al-Maghrib (Bank of Morocco)
 Websitewww.bkam.ma
Valuation
Inflation0.2%
 SourceThe World Factbook, 2019 est.
Pegged with60% EUR and 40% USD[1]

The Moroccan dirham (Arabic: درهم, romanizeddirham, 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).

The exchange rate of the Moroccan dirham is determined within a band of fluctuation of ± 5 percent compared to a central rate established by the central bank of Morocco on the basis of a currency basket composed of the euro and United States dollar by up to 60% and 40% respectively.[2][3]

  1. ^ Spurgeon, Susanna (November 28, 2019). "Morocco Considers Making Exchange Rate More Flexible in January". Morocco World News.
  2. ^ Transition to a more flexible exchange rate system
  3. ^ "BAM : la flexibilisation du régime de change devrait reprendre en 2026" (in French).

Moroccan dirham

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