- Moroccan dirham
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Moroccan dirham درهم مغربي (Arabic) ISO 4217 code MAD User(s) 
MoroccoInflation 2% Source The World Factbook, 2007 est. Subunit 1/100 santim Symbol د.م. Coins 10 & 20 santimat, ½, 1, 2, 5 & 10 dirham Rarely used 5 santimat Banknotes 20, 50, 100 & 200 dirham Central bank Bank Al-Maghrib Website www.bkam.ma The dirham (Arabic: درهم, plural: دراهم) is the currency of Morocco. The plural form is pronounced darahim, although in French and English "dirhams" is commonly used. Its ISO 4217 code is "MAD". It is subdivided into 100 santimat (singular: santim, Arabic singular: سنتيم, plural: سنتيما or سنتيمات). The dirham is issued by the Bank Al-Maghrib, the central bank of Morocco. It is also the de facto currency in Western Sahara. While the dirham is a fully convertible currency, export of the local currency is prohibited by law, but seldom controlled.
Contents
History
Before the introduction of a modern coinage in 1882, Morocco issued copper coins denominated in falus, silver coins denominated in dirham & gold coins denominated in benduqi. From 1882, the dirham became a subdivision of the Moroccan rial, with 50 Mazunas = 10 dirham = 1 rial.
When Morocco became a French protectorate in 1921 it switched to the Moroccan franc. The dirham was reintroduced in 1960. It replaced the franc as the major unit of currency but, until 1974, the franc continued to circulate, with 1 dirham = 100 francs. In 1974, the santim replaced the franc.[1]
Coins
In 1960, silver 1 dirham coins were introduced. These were followed by nickel 1 dirham and silver 5 dirham coins in 1965. In 1974, with the introduction of the santim, a new coinage was introduced in denominations of 1, 5, 10, 20 and 50 santimat and 1 dirham. The 1 santim coins were aluminium, the 5 up to 20 santimat were minted in brass, with the highest two denominations in cupro-nickel. Cupro-nickel 5 dirham coins were added in 1980 and changed to a bi-metal coin in 1987. The bi-metal coins bear two year designations for the issue date—1987 in the Gregorian calendar and the 1407 in the Islamic calendar. The 1 santim was only minted until 1987 when new designs were introduced, with a ½ dirham replacing the 50 santimat without changing the size or composition. The new 5 dirham coin was bimetallic, as was the 10 dirham coin introduced in 1995. Cupro-nickel 2 dirham coins were introduced in 2002. In 2011, a new series of coins will be issued.[2]
Dirham Coins [1] Value Technical parameters Description Diameter Mass Composition Edge Obverse Reverse 1 santim 17 mm 0.7 g Aluminium Smooth Arms of the Kingdom and inscription "Kingdom of Morocco" Design of fishing 5 santimat 17.5 mm 2 g Aluminium bronze
92% copper
6% aluminium
2% nickelSmooth Arms of the Kingdom and inscription "Kingdom of Morocco" Fish in a fishing net under a boat tiller 10 santimat 20 mm 3 g Nordic gold
89% copper
5% aluminium
5% zinc
1% tinReeded An ear of corn 20 santimat 23 mm 4 g Reeded Design representing a Fibule ½ dirham 21 mm 4 g Cupronickel
75% copper
25% nickelReeded Arms of the Kingdom and inscription "Kingdom of Morocco" Design representing communications and new technology 1 dirham 24 mm 6 g Reeded Mohammed VI (earlier issues show Hassan II) Arms of the Kingdom and inscription "Kingdom of Morocco" 2 dirham 26 mm 7 g Reeded Mohammed VI 5 dirhams 25 mm 7.5 g Ring: Cupronickel (as 1 dirham)
Center: 70% Cu 24.5% Zn 5.5% NiReeded Mohammed VI (earlier issues show Hassan II) 10 dirhams 28 mm 12 g Ring: Aluminium bronze (as 5 santimat)
Center: Cupronickel (as 1 dirham)Reeded Mohammed VI (earlier issues show Hassan II) Arms of the Kingdom and inscription "Kingdom of Morocco" For table standards, see the coin specification table. Banknotes
The first notes denominated in dirham were overprints on earlier franc notes, in denominations of 50 dirham (on 5000 francs) and 100 dirham (on 10,000 francs). In 1965, new notes were issued for 5, 10 and 50 dirham. 100 dirham notes were introduced in 1970, followed by 200 dirham notes in 1991 and 20 dirham in 1996. 5 dirham notes were replaced by coins in 1980, with the same happening to 10 dirham notes in 1995.
Dirham Banknotes [2] 1987 Series (Including 1991 Revision) Value Dimensions Obverse Reverse Main Colour Description Date of Obverse Reverse Watermark printing issue 10 dirhams 143 × 70 mm 
Yellow and pink (1987)
violet (1991)Hassan II Moroccan lute, pillar Hassan II 1987 1987/ca. 1991 50 dirhams 148 × 70 mm 
Green Hassan II A fantasia scene Hassan II 1987 1987/ca. 1991 100 dirhams 153 × 75 mm 
Brown Hassan II The Green March into the Spanish Sahara (October, 1975), Desert rose Hassan II 1987 1987/ca. 1991 200 dirhams 158 × 75 mm 
Blue Hassan II Conch shell, a branch of coral, and a Dhow. Hassan II 1987 ca. 1991 1996 Series 20 dirhams 130 × 68 mm 
Brown-reddish Hassan II, Great mosque of Casablanca Wall fountain of the Hassan II Mosque Hassan II 1996 1996 2002 Series 20 dirhams 140 × 70 mm 
Violet Mohammed VI, "Bab Challah" (Challah gate) in Rabat A panoramical view of the Oudayas Mohammed VI and "20" 2005 2005 50 dirhams 147 × 70 mm 
Green Mohammed VI A clay-made building (Ksour) Mohammed VI and "50" 2002 2002 100 dirhams 150 × 78 mm 
Brown Mohammed VI, Mohammed V and Hassan II The Green March into the Spanish Sahara (October, 1975) Mohammed VI and "100" 2002 2002 200 dirhams 158 × 78 mm [[Image:|100px]] [[Image:|100px]] Blue Mohammed VI and Hassan II, Grand mosque of Casablanca A window of the Hassan II Mosque, Lighthouse of Casablanca (Pointe el-Hank) Mohammed VI and "200" 2002 2002 For table standards, see the banknote specification table. Popular denominations and usage
Popular denominations are words widely used in Morocco to refer to different values of the currency they are not considered official by the state though. Those include the rial (Arabic pronunciation: [rjal]), equivalent to 5 santimat, and the franc [frˤɑnk], equivalent to 1 santim. Usually, when dealing with goods with a value lower than a dirham, it is common to use the rial or santim. For very high priced goods, such as cars, it is normative to refer to the price in santimat. However, rial is used when speaking in Arabic and centime when speaking in French. Though not used by the young generation, the denomination 1000, 2000, ... to 100,000 francs will be used by people who lived during the French colonial period when referring to 10, 20 and 1000 dirham. Likewise, rial is also used for higher value than portions of the dirham, reaching 5000 dhs (100,000 rial). This denomination is used in Moroccan arabic speaking context especially in popular milieu such as old medina souks or vegetable markets.
50 dirhams and Ksour in the background
Current MAD exchange rates From Google Finance: AUD CAD CHF EUR GBP HKD JPY USD From Yahoo! Finance: AUD CAD CHF EUR GBP HKD JPY USD From OzForex: AUD CAD CHF EUR GBP HKD JPY USD From XE.com: AUD CAD CHF EUR GBP HKD JPY USD From OANDA.com: AUD CAD CHF EUR GBP HKD JPY USD See also
References
- ^ Krause and Mishler, 1995 Standard Catalog of World Coins, krause publications
- ^ Morocco 2011 - New coin series WorldCoinNews.blogspot.com. Retrieved 2011-10-15.
- Krause, Chester L. and Clifford Mishler (1991). Standard Catalog of World Coins: 1801–1991 (18th ed. ed.). Krause Publications. ISBN 0873411501.
- Pick, Albert (1994). Standard Catalog of World Paper Money: General Issues. Colin R. Bruce II and Neil Shafer (editors) (7th ed.). Krause Publications. ISBN 0-87341-207-9.
External links
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