Moroccan dirham

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Moroccan dirham
???? ????? (Arabic)
ISO 4217
Code MAD
Denominations
Subunit
1100 santim
Symbol MAD
Banknotes 20, 50, 100 & 200 dirhams
Coins
Freq. used , 1, 2, 5 & 10 dirhams
Rarely used 10 & 20 santimat
Demographics
User(s) Morocco
Issuance
Central bank Bank Al-Maghrib
Website www.bkam.ma
Valuation
Inflation 2%
Source The World Factbook, 2007 est.
The dirham (Arabic ??????), plural (Arabic ???????), 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 ?????, plural ???????). The dirham is issued by
the Bank Al-Maghrib, the central bank of Morocco.

Contents [hide]
1 History
2 Coins
3 Banknotes
4 Popular denominations and usage
5 See also
6 Notes
7 References
8 External links
History[edit]

Coins and banknotes in Moroccan dirhams (MAD).

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.[1] 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.[2]

Coins[edit]
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 date1987 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 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.[3]

Dirham Coins [4]

Value Technical parameters Description
Diameter Mass Composition Edge Obverse Reverse
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
92% copper
6% aluminium
2% nickel 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
89% copper
5% aluminium
5% zinc
1% tin Reeded As of 2011, saffron flower and bee
20 santimat 23 mm 4 g Reeded Design representing a Fibule
dirham 21 mm 4 g Cupronickel
75% copper
25% nickel 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.
Banknotes[edit]
The first notes denominated in dirham were overprints on earlier franc notes, in
denominations of 50 dirhams (on 5000 francs) and 100 dirhams (on 10,000 francs). In
1965, new notes were issued for 5, 10 and 50 dirhams. 100 dirham notes were
introduced in 1970, followed by 200 dirham notes in 1991 and 20 dirham notes 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.[5]

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.[6]

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.[7]
[8][9][10]

Dirham Banknotes [11]

1987 Series (Including 1991 Revision)
Value Dimensions Obverse Reverse Main Colour Description Date of
Obverse Reverse Watermark printing issue
10 dirhams 143 70 mm 10 dirham.jpg 10 dirham back.jpg Yellow and pink
(1987)
violet (1991) Hassan II Moroccan lute, pillar Hassan II 1987 1987ca. 1991
50 dirhams 148 70 mm 50 dirham.jpg 50 dirham back.jpg