Moroccan Dirham

MAD

  • Convertible: Yes
  • Transferable: Yes
  • Exchange rate regime: Managed floating exchange rate regime (pegged to a basket of currencies)
Währungs-Referenzzentrum

Available Currency Pairs

EURMAD

Ansehen EUR

USDMAD

Ansehen USD

GBPMAD

Ansehen GBP

MADJPY

Ansehen JPY

AUDMAD

Ansehen AUD

NZDMAD

Ansehen NZD

DKKMAD

Ansehen DKK

SEKMAD

Ansehen SEK

NOKMAD

Ansehen NOK

CADMAD

Ansehen CAD

PLNMAD

Ansehen PLN

MADCZK

Ansehen CZK

MADHUF

Ansehen HUF

MADRUB

Ansehen RUB

SGDMAD

Ansehen SGD

HKDMAD

Ansehen HKD

MADTHB

Ansehen THB

AEDMAD

Ansehen AED

BGNMAD

Ansehen BGN

HRKMAD

Ansehen HKD

CHFMAD

Ansehen CHF

ILSMAD

Ansehen ILS

MADMXN

Ansehen MXN

RONMAD

Ansehen RON

SARMAD

Ansehen SAR

TRYMAD

Ansehen TRY

MADXAF

Ansehen XAF

MADXOF

Ansehen XOF

MADZAR

Ansehen ZAR

Did You Know?

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Monetary Policy

  • Bank Al-Maghrib (BKAM, the central bank of Morocco) sustains a regime whereby the value of the dirham is guaranteed a certain degree of stability by remaining pegged to the currencies of Morocco’s main trading partners. Since 2015, the basket consists of 60% EUR and 40% USD.
  • Bank Al-Maghrib’s primary objective is the achievement of price stability, allowing for moderate evolutions therein. This is achieved through proactive monetary policy with regard to liquidity and interest rates, as well as the controlled fluctuation of MAD.
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Features and Highlights

There is a market for MAD in foreign exchange (deliverable). Liquidity is quite scarce.FX forwards are possible, but also in limited liquidity. In both the spot and forward markets, liquidity is better for clients seeking to buy MAD.

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Expert Opinion

BKAM manages the value of its currency against a basket composed of 60% EUR and 40% USD. Based on this value, they indicate quotes for MAD against 16 other currencies. This implies that the currency is relatively stable against most major currencies and doesn’t behave like a typical “emerging market” currency, which tend to exhibit high rates of volatility.The rate is managed within a band around the desired level. The upper and lower limits allowed by BKAM are indicated on their website.

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Regulations

In general, there are no special restrictions on the purchase and sale of MAD.

Keep In Mind

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Currency Reference Guide

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Reference guide

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