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|درهم مغربي (Arabic)</smalp|
|ISO 4217 code||MAD|
|Central bank||Bank Al-Maghrib|
|User(s)||Morocco (All places it has sovereignty over)|
|Source||The World Factbook, 2007 est.|
|Coins||10 & 20 santimat, ½, 1, 2, 5 & 10 dirhams|
|Rarely used||5 santimat|
|Banknotes||20, 50, 100 & 200 dirhams|
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. While the dirham is a fully convertible currency, export of the local currency is prohibited by law, but seldom controlled.
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 most of Morocco became a French protectorate in 1912 it switched to the Moroccan franc. The dirham was reintroduced on 16 October 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.
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 has been issued, with the 5 and 10 dirham coin utilizing a latent image as a security feature.
|Dirham Coins |
|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
|Smooth||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
|Reeded||An ear of corn|
|20 santimat||23 mm||4 g||Reeded||Design representing a Fibule|
|½ dirham||21 mm||4 g||Cupronickel
|Reeded||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 dirhams||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% Ni
|Reeded||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.|
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. In mid-October 2009, Bank Al-Maghrib issued four million 50-dirham banknotes to commemorate the bank's 50th anniversary. The commemorative note measures 147 x 70 mm and features the portraits of Kings Mohammed VI, Hassan II, and Mohammed V. The back of the notes features the headquarters of Bank Al-Maghrib in Rabat. The speech delivered in 1959 by Mohammed V at the opening of Bank Al-Maghrib is microprinted on the back.
In December 2012, Bank-Al Maghrib issued a 25-dirham banknote to commemorate the 25th anniversary of banknote production at the Moroccan State Printing Works, Dar As-Sikkah. It is the first banknote in the world to be printed on Durasafe, a paper-polymer-paper composite substrate produced by Fortress Paper. The front of the commemorative note features an intaglio vignette and a watermark of King Mohammed VI, and a magenta-green color shift security thread. The thread, like the watermark, is embedded inside the banknote yet visible behind a one-sided Viewsafe polymer window. It also has a fully transparent polymer window embossed with the King's royal crest. The back of the note carries a print vignette commemorating 25 years of banknote printing at the Moroccan State Printing Works, Dar As-Sikkah. The windows in Durasafe are formed by die cutting each side of the three layer composite substrate separately. One-sided Viewsafe windows give a clear view inside the substrate where the thread and the watermark of King Mohammed VI are protected, but fully visible behind the polymer core. The transparent Thrusafe window is created by die-cutting both the outer paperlayers to reveal only the transparent polymer core.
On August 15, 2013, Bank Al-Maghrib has announced a new series of banknotes. The notes feature a portrait of King Mohammed VI and the royal crown. Each of the notes show a Moroccan door to the left of the portrait, demonstrating the richness of the country's architectural heritage, and symbolizing the openness of the country.
|Dirham Banknotes 
|1987 Series (Including 1991 Revision)|
|Value||Dimensions||Obverse||Reverse||Main Colour||Description||Date of|
|10 dirhams||143 × 70 mm||Yellow and pink (1987)
|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|
|20 dirhams||130 × 68 mm||Brown-reddish||Hassan II, Great mosque of Casablanca||Wall fountain of the Hassan II Mosque||Hassan II||1996||1996|
|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||||||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|
|100 dirhams||145 x 70 mm||Brown, yellow, violet and blue||Mohammed VI; coat of arms of Morocco||Touareg tent; wind turbine farm; three camels with riders on a desert||Mohammed VI and electrotype 100||2012||2012|
|200 dirhams||151 x 70 mm||||||Blue, green and violet||Mohammed VI; coat of arms of Morocco||Cargo ship, gantry cranes, and shipping containers in the port of Tangier; lighthouse and trees on Cape Spartel in Tangier||Mohammed VI and electrotype 200||2012||2012|
- Introduction of a 25 dirham bill.
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[disambiguation needed] (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.
|Current MAD exchange rates|
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- Linzmayer, Owen (2013). "Morocco". The Banknote Book. San Francisco, CA: www.BanknoteNews.com.
- Krause and Mishler, 1995 Standard Catalog of World Coins, krause publications
- Morocco 2011 - New coin series WorldCoinNews.blogspot.com. Retrieved 2011-10-15.
- "Bank Al-Maghrib". Bkam.ma. Retrieved 2013-06-25.
- Morocco new 50-dirham commemorative confirmed BanknoteNews.com. Retrieved 2012-06-06.
- Morocco new 25-dirham commemorative world's first printed on Durasafe substrate BanknoteNews.com. February 1, 2013. Retrieved on 2013-02-02.
- Morocco new 20-, 50-, 100-, and 200-dirham notes to be issued 15.08.2013 BanknoteNews.com. July 25, 2013. Retrieved on 2013-07-26.
- Morocco new 200-dirham note confirmed BanknoteNews.com. August 26, 2013. Retrieved on 2013-09-04.
- Morocco new 100-dirham note confirmed BanknoteNews.com. September 16, 2013. Retrieved on 2013-09-18.
- "Bank Al-Maghrib". Bkam.ma. Retrieved 2013-06-25.
- Krause, Chester L., and Clifford Mishler (1991). Standard Catalog of World Coins: 1801–1991 (18th 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.
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