
Moroccan Dirham
MAD
- Convertible: Yes
- Transferable: Yes
- Exchange rate regime: Managed floating exchange rate regime (pegged to a basket of currencies)
Available Currency Pairs

EURMAD
Weergeven EUR
USDMAD
Weergeven USD
GBPMAD
Weergeven GBP
MADJPY
Weergeven JPY
AUDMAD
Weergeven AUD
NZDMAD
Weergeven NZD
DKKMAD
Weergeven DKK
SEKMAD
Weergeven SEK
NOKMAD
Weergeven NOK
CADMAD
Weergeven CAD
PLNMAD
Weergeven PLN
MADCZK
Weergeven CZK
MADHUF
Weergeven HUF
MADRUB
Weergeven RUB
SGDMAD
Weergeven SGD
HKDMAD
Weergeven HKD
MADTHB
Weergeven THB
CNHMAD
Weergeven CNH/CNY
AEDMAD
Weergeven AED
BGNMAD
Weergeven BGN
HRKMAD
Weergeven HKD
CHFMAD
Weergeven CHF
ILSMAD
Weergeven ILS
MADMXN
Weergeven MXN
RONMAD
Weergeven RON
SARMAD
Weergeven SAR
TRYMAD
Weergeven TRY
MADXAF
Weergeven XAF
MADXOF
Weergeven XOF
MADZAR
Weergeven ZARDid You Know?
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.
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.
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.
Regulations
In general, there are no special restrictions on the purchase and sale of MAD.
Keep In Mind
Useful Links
Currency Reference Guide
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Reference guide