MAD (Moroccan Dirham)

AAA

DEFINITION of 'MAD (Moroccan Dirham)'

The currency abbreviation for the Moroccan dirham (MAD), the currency for Morocco and the de facto currency of the Western Sahara region. The Moroccan dirham is made up of 100 santimat (plural); popular language often refers to five santimat as a "rial", and one santim as a "franc".

INVESTOPEDIA EXPLAINS 'MAD (Moroccan Dirham)'

The dirham was used in Arabia and the Levant (a large area in Western Asia bounded by the Taurus Mountains and the Arabian Desert) in pre-Islamic times before the introduction of modern coins in 1882. Silver coins denominated in dirham were used until 1882, at which point the dirham became a subdivision of the Moroccan rial. The rial was replaced in Spanish Morocco by the Spanish peseta in 1912, and in French Morocco by the franc in 1921. The franc was then replaced by the dirham in 1960 when it was reintroduced. The franc remained in circulation until 1974, when it was replaced by the santim.

RELATED TERMS
  1. Currency

    A generally accepted form of money, including coins and paper ...
  2. Forex - FX

    The market in which currencies are traded. The forex market is ...
  3. Quote Currency

    The second currency quoted in a currency pair in forex. In a ...
  4. Base Currency

    The first currency quoted in a currency pair on forex. It is ...
  5. Currency Pair

    The quotation and pricing structure of the currencies traded ...
  6. Forex Futures

    An exchange-traded contract to buy or sell a specified amount ...
Related Articles
  1. Forex Education

    Making Sense Of The EUR/CHF Relationship

    The strong correlation between EUR and CHF currency pairs is undeniable. Find out what it means for forex traders.
  2. Technical Indicators

    The Basics Of Money Flow

    Learn how this indicator uses both price and volume to record a more complete picture of price action.
  3. Forex Education

    Currency Exchange: Floating Rate Vs. Fixed Rate

    Baffled by exchange rates? Wonder why some currencies fluctuate while others are pegged? This article has the answers.
  4. Forex Education

    Top 7 Questions About Currency Trading Answered

    Whether you're puzzled by pips or curious about carry trades, your queries are answered here.
  5. Options & Futures

    Getting Started In Forex

    Before entering this market, you should define what you need from your broker and from your strategy.
  6. Forex Education

    Forex: Should You Be Trading Trend Or Range?

    In FX, it's not the price environment that decides this for you. Learn the differences to see which you prefer.
  7. Investing Basics

    The Most Popular Bitcoin Mining Software

    Success at mining bitcoins depends on the combination of time, knowledge, computer hardware and the complementary software.
  8. Forex Education

    Who are cambrists and how do I become one?

    Discover what a cambrist is, why they are important to exchange markets and what skills you should possess if you are interested in becoming one.
  9. Trading Strategies

    Can forex currency pairs exhibit consolidation patterns?

    Learn how forex currency pairs exhibit recognizable consolidation patterns. These patterns offer traders the opportunity to place low-risk, high-reward trades.
  10. Forex

    Ways To Earn Bitcoins

    There are many ways to earn and own Bitcoins other than just buying them on a Bitcoin exchange.

You May Also Like

Hot Definitions
  1. Multinational Corporation - MNC

    A corporation that has its facilities and other assets in at least one country other than its home country. Such companies ...
  2. SWOT Analysis

    A tool that identifies the strengths, weaknesses, opportunities and threats of an organization. Specifically, SWOT is a basic, ...
  3. Simple Interest

    A quick method of calculating the interest charge on a loan. Simple interest is determined by multiplying the interest rate ...
  4. Special Administrative Region - SAR

    Unique geographical areas with a high degree of autonomy set up by the People's Republic of China. The Special Administrative ...
  5. Annual Percentage Rate - APR

    The annual rate that is charged for borrowing (or made by investing), expressed as a single percentage number that represents ...
  6. Free Carrier - FCA

    A trade term requiring the seller to deliver goods to a named airport, terminal, or other place where the carrier operates. ...
Trading Center