MAD – Moroccan Dirham
Sign – د.م. / Code – MAD
Long before our corporate currency exchange brokers were helping our clients with their Moroccan Dirham transfers, the Moroccan Dirham was creating its own rich history.
About the Moroccan Dirham
Prior to the introduction of more modern coinage in 1882, Morocco originally used copper coins denominated in falus, silver coins in dirham and gold coins in benduqi. From 1882 the Moroccan Rial was in use.
When the majority of Morocco became a French protectorate in 1912 the Moroccan Franc became the national currency.
The Dirham was reintroduced in 1960 after their independence from France and the Moroccan franc. However, the Franc continued to circulate until 1974, when the Santim replaced the Franc.
Subunit: Santim – 1/100
Coins: ½ dirham, 1 dirham, 2 dirhams, 5 dirhams, 10 dirhams
Banknotes: 20 dirhams, 50 dirhams, 100 dirhams, 200 dirhams
Bank: Bank Al-Maghrib