All About the Moroccan Dirham (MAD): Complete Guide

The Dirham is Morocco's official currency, identified by the ISO code MAD. Whether you are a tourist preparing for a trip, a foreign investor, or a curious citizen, understanding how this currency works is essential.

A Centuries-Old History

The word "Dirham" originates from the Greek "Drachma". Used in Morocco since the advent of the Idrisid dynasty in the 8th century, it has crossed ages. However, the modern Dirham as we know it was officially reintroduced on October 17, 1959, shortly after Morocco's independence, replacing the Moroccan Franc.

Bank Al-Maghrib (BAM), the Central Bank, has the exclusive mandate to issue fiat currency. Over the decades, banknote designs have evolved to celebrate the Kingdom's cultural and architectural heritage while incorporating increasingly sophisticated security features.

Banknotes and Coins in Circulation

During your stay in Morocco, you will handle different denominations. The system is split into Dirhams and Centimes (sometimes colloquially called "Rials" or "Francs").

• Banknotes:
  • 200 MAD (Blue): The largest note. It highlights structural projects (ports, bridges) and industrial development.
  • 100 MAD (Brown/Yellow): Very common, often evokes the Moroccan Sahara and traditional festivities.
  • 50 MAD (Green): Represents agriculture, the olive tree, and sustainable development.
  • 20 MAD (Purple): The smallest paper note, widely used for small purchases, celebrating architectural heritage.
• Coins:
  • 10 MAD and 5 MAD (Bimetallic): Silver and gold coins.
  • 1 MAD and 1/2 MAD (Silver).
  • 10 and 20 Centimes (Gold): Very useful for exact change.

The New Banknote Series (2024)

Recently, Bank Al-Maghrib launched a new series of banknotes and coins. This new generation stands out with resolutely modern graphics and forward-looking themes (renewable energies, global openness). These new notes circulate simultaneously with the older series, so you can have both in your wallet without any issue.

How to Spot a Fake Banknote?

Although counterfeiting is rare, it is good to know the basic security features, especially for the 200 MAD notes:

• The Watermark: Looking at the note against the light, you should see the portrait of His Majesty the King and the face value of the note.
• The Security Thread: A shiny band crosses the note vertically, changing color when tilted.
• The Touch: Authentic notes have a specific relief on numbers and portraits ("Intaglio printing"). The paper has a characteristic crisp sound.

Value and Exchange Policy

The Moroccan Dirham is not a fully floating currency like the Euro or the Dollar. Its value is pegged to a weighted currency basket of the Euro (approx. 60%) and the Dollar (approx. 40%). This policy absorbs external shocks and ensures price stability for Moroccan households.

Practical Tips for Travelers

Morocco remains a society where "Cash is King". While department stores, hotels, and restaurants accept credit cards, most daily transactions are done in cash (taxis, groceries, souks, tips).

Our advice: always carry between 200 and 500 MAD in small bills (20 MAD, 50 MAD) and coins. Avoid paying a small taxi with a 200 MAD note, as the driver often won't have change.

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