The official currency of Morocco is the Moroccan Dirham. Here are the basics:
One Dirham is divided into 100 centimes.
Official international code: MAD.
Dirham symbol: DH
When most of Morocco became a French protectorate in 1912, the Moroccan Franc was introduced. The Dirham was introduced in 1960 to gradually replace the Franc due to independence. Eventually, the Moroccan Franc was replaced completely by the Dirham in the 1970’s.
The Currency of Morocco in numbers
The Moroccan Dirham is 60% pegged to the Euro, and 40% pegged to the US Dollar. The current exchange rate is as follows:
1 Euro=10.84 MAD
1 US Dollar=8.93 MAD
Speaking of numbers, let’s go over the denominations of the Moroccan currency. All of the coins and bills are printed by the Bank Al-Maghrib (Bank of Morocco). The banknotes have images of the current reigning monarch, King Mohammed VI and his late father, King Hassan II. Both are members of the Moroccan Alaouite dynasty.
Denominations are the following:
Coins: 1/2, 1, 5, 10—- 10 and 20 centimes are also used, though not so common.
Banknotes: 20, 50, 100, 200
Now that you’re familiar with Morocco, would you care to join us on an independent tour? Check out our link here!