The Moroccan Dirham in the international financial system has the designation MAD and code 504. This is the official currency in Morocco. The currency was put into circulation in 1961.
Currency Origin
What is the currency in Morocco today? Moroccan Dirham has been the official currency of this country since 1961. Prior to this, the Moroccan franc was used in the state. One dirham consists of one hundred santims. At the moment, coins in denominations of ten and twenty centimes are in circulation. In addition, metal money in denominations of half, one, two, five, ten, twenty, fifty, one hundred and two hundred dirhams is used.
Moroccan money design
Moroccan coins contain the national emblem of Morocco. As a symbol stands a shield that holds a pair of lions. In addition, it is crowned with a crown, the sun and the pentagram sign are applied on it. The opposite side of the coins, as a rule, is formed in different ways. For example, obverse coins in denominations of one and twenty dirhams contain an image of King Mohammed VI. The inscriptions on metallic money are in Arabic. By the way, it will be said that the year of manufacture of the coins is indicated according to both the Arabic and European calendar.
Moroccan dirham paper bills are almost identical in size. On the front side of all banknotes dated 2002, the image of King Mohammed VI is printed. At the same time, the color scheme of notes is different. For example, a banknote of twenty dirhams is made in violet, fifty is green, one hundred is brown, and two hundred is blue. On the back of the banknotes are various national symbols of Morocco. The currency of twenty dirhams, for example, contains a panoramic view of the Udaya fortress. Fifty is an adobe building. Interestingly, the design of the back of the one hundred dirham note was made. It depicts the so-called green march. This name bears the famous demonstration of the people of Morocco, organized by the country's leadership in 1975. This strategic event aimed to force Spain to transfer the disputed territories of Western Sahara to the Moroccan state . The Moroccan King Hassan II announced the organization of the demonstration and its objectives.
On the banknote of two hundred dirhams is the window of the mosque of King Hassan II. By the way, it will be noted that the obverse of all notes contains inscriptions in Arabic, and the reverse in English.
Interesting Facts
The development and design of the new Moroccan currency units is managed by Bank al-Maghrib. This is the central financial institution of Morocco. The currency of the state, its issue and control on it are the prerogative of Al-Maghrib Bank. An interesting fact is the fact that the export of local dirhams outside the country is prohibited by law. In 2009, a jubilee denomination of fifty dirhams was put into circulation. Then Bank al-Maghrib celebrated its fiftieth anniversary, which served as a pretext for the release of a new banknote. On the front side of this bill you can see the image of three Moroccan kings at once: Muhammad VI, Hassan II and Muhammad V. But on the reverse of the banknote is a view of the headquarters of Bank al-Maghrib in the capital of Morocco - the city of Rabat.
Currency Exchange in Morocco
Travelers and tourists should be aware that there is an opportunity to purchase local dirhams at bank branches, large hotels and restaurants in Morocco. The currency of this state is also sold at special exchange points that can be found at the country's airports. You should refrain from buying Moroccan dirhams from your hands on city streets. In this case, the probability of fraud on the part of local businessmen is high. When traveling to the country, you need to know what the Moroccan currency has against the dollar. At the moment, this ratio is 1 MAD = 0.10 USD.