Moroccan dirham (MAD)

The Moroccan dirham (ISO code: MAD) is the official currency of Morocco, issued by Bank Al-Maghrib. Introduced in 1960 to replace the Moroccan franc as the primary monetary unit, it is subdivided into 100 santimat. The dirham operates under a managed float exchange regime determined by a currency basket comprising the euro and the US dollar, reflecting Morocco's major international trade and economic partnerships.