Moroccan dirham
From Wikipedia, the free encyclopedia
| Moroccan dirham درهم مغربي (Arabic) |
|
| ISO 4217 Code | MAD |
|---|---|
| User(s) | Morocco and Western Sahara |
| Inflation | 2.8% |
| Source | The World Factbook, 2006 est. |
| Subunit | |
| 1/100 | santim |
| Symbol | د.م. |
| Coins | 1, 5, 10, 20 santimat, ½, 1, 5, and 10 dirham |
| Banknotes | 10, 20, 50, 100, 200 dirham |
| Central bank | Bank Al-Maghrib |
| Website | www.bkam.ma |
The dirham (Arabic: درهم, plural: درهمان , دراهم or درهما) is the currency of Morocco. 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.
Contents |
[edit] History
Before the introduction of a modern coinage in 1882, Morocco issued copper coins denominated in falus, silver coins denominated in dirham and gold coins denominated in benduqi. From 1882, the dirham became a subdivision of the rial, with 10 dirham = 1 rial.
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.
[edit] Coins
In 1960, silver 1 dirham coins were introduced. These were followed by nickel 1 dirham and silver 5 dirham coins in 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. The 1 santim was only minted until 1975. Cupro-nickel 5 dirham coins were added in 1980. In 1987, 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.
| Dirham Coins [1] | |||||||
|---|---|---|---|---|---|---|---|
| Value | Technical parameters | Description | |||||
| Diameter | Mass | Composition | Edge | Obverse | Reverse | ||
| 1 centime | 17 mm | 0.7 g | Aluminium | Smooth | Design of fishing | Arms of the Kingdom and inscription "Kingdom of Morocco" | |
| 5 centimes | 17.5 mm | 2 g | Aluminium bronze 92% copper 6% aluminium 2% nickel |
Smooth | Fish in a fishing net under a boat tiller | Arms of the Kingdom and inscription "Kingdom of Morocco" | |
| 10 centimes | 20 mm | 3 g | Ridged | An ear of corn | Arms of the Kingdom and inscription "Kingdom of Morocco" | ||
| 20 centimes | 23 mm | 4 g | Ridged | Design representing a Fibule | Arms of the Kingdom and inscription "Kingdom of Morocco" | ||
| ½ dirham | 21 mm | 4 g | Cupronickel 75% copper 25% nickel |
Ridged | Design representing communications and new technology | Arms of the Kingdom and inscription "Kingdom of Morocco" | |
| 1 dirham | 24 mm | 6 g | Ridged | Mohammed VI | Arms of the Kingdom and inscription "Kingdom of Morocco" | ||
| 5 dirhams | 26.2 mm | 6.8 g | Ring: 82.5% iron 17.5% chromium Center: Aluminium bronze (as 20 centimes) |
Ridged | Hassan II | Arms of the Kingdom and inscription "Kingdom of Morocco" | |
| 10 dirhams | 28 mm | 12 g | Ring: Aluminium bronze (as 20 centimes) Center: Cupronickel (as 1 dirham) |
Ridged | Hassan II | Arms of the Kingdom and inscription "Kingdom of Morocco" | |
[edit] 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 | |||
| Value | Colour | Obverse | Reverse |
| 10 dirhams | Violet | Hassan II | Moroccan lute |
| 50 dirhams | Green | Hassan II | A fantasia scene |
| 100 dirhams | Brown | Hassan II | The Green March |
| 200 dirhams | Blue | Hassan II | Shellfish, a branch of coral, and an Arab fishing boat. |
| 1996 Series | |||
| 20 dirhams | Brown-reddish | Hassan II | Wall fountain of the Hassan II Mosque |
| 2002 Series | |||
| 50 dirhams | Green | Mohammed VI, Mohammed V | A clay-made building (Ksour) |
| 100 dirhams | Brown | Mohammed VI, Mohammed V, and Hassan II | The Green March |
| 200 dirhams | Blue | Mohammed VI and Hassan II | A window of the Hassan II Mosque |
| Use Yahoo! Finance: | AUD CAD CHF EUR GBP HKD JPY USD |
| Use XE.com: | AUD CAD CHF EUR GBP HKD JPY USD |
| Use OANDA.com: | AUD CAD CHF EUR GBP HKD JPY USD |
[edit] External links
[edit] References
C. L. Krause & C. Mishler, Standard Catalog of World Coins, Krause Publications
A. Pick, Standard Catalog of World Paper Money, Krause Publications
