Moroccan dirham

Moroccan dirham
د م.
The Moroccan dirham (درهم, درهم; ⴷⵔⵀⵎ; sign: DH; code: MAD) is the official monetary currency of Morocco. It is issued by the Bank Al-Maghrib, the central bank of Morocco. One Moroccan dirham is subdivided into 100 santimat (singular: santim; سانتيم).

The word dirham derives from the Greek currency, the drachma. The Idrissid dirham, a silver coin, was minted in Morocco under the Idrisid dynasty from the 8th to 10th centuries.

Before the introduction of a modern coinage in 1882, Morocco issued copper coins denominated in falus, silver coins denominated in dirham, and gold coins denominated in benduqi. From 1882, the dirham became a subdivision of the Moroccan rial, with 500 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. 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 centime replaced the franc.

Country
  • Morocco
    Morocco, officially the Kingdom of Morocco, is a country in the Maghreb region of Northwestern Africa. It overlooks the Mediterranean Sea to the north and the Atlantic Ocean to the west, and has land borders with Algeria to the east, and the disputed territory of Western Sahara to the south. Mauritania lies to the south of Western Sahara. Morocco also claims the Spanish exclaves of Ceuta, Melilla and Peñón de Vélez de la Gomera, and several small Spanish-controlled islands off its coast. It spans an area of 446,300 km2 or 710,850 km2, with a population of roughly 37 million. Its official and predominant religion is Islam, and the official languages are Arabic and Berber; the Moroccan dialect of Arabic and French are also widely spoken. Moroccan identity and culture is a mix of Arab, Berber, African and European cultures. Its capital is Rabat, while its largest city is Casablanca.

    In a region inhabited since the Paleolithic era over 300,000 years ago, the first Moroccan state was established by Idris I in 788. It was subsequently ruled by a series of independent dynasties, reaching its zenith as a regional power in the 11th and 12th centuries, under the Almoravid and Almohad dynasties, when it controlled most of the Iberian Peninsula and the Maghreb. In the 15th and 16th centuries, Morocco faced external threats to its sovereignty, with Portugal seizing some territory and the Ottoman Empire encroaching from the east. The Marinid and Saadi dynasties otherwise resisted foreign domination, and Morocco was the only North African nation to escape Ottoman dominion. The 'Alawi dynasty, which rules the country to this day, seized power in 1631, and over the next two centuries expanded diplomatic and commercial relations with the Western world. Morocco's strategic location near the mouth of the Mediterranean drew renewed European interest; in 1912, France and Spain divided the country into respective protectorates, reserving an international zone in Tangier. Following intermittent riots and revolts against colonial rule, in 1956, Morocco regained its independence and reunified.
  • Western Sahara
    Western Sahara (الصحراء الغربية ; Taneẓroft Tutrimt; Sáhara Occidental) is a disputed territory on the northwest coast and in the Maghreb region of North and West Africa. About 20% of the territory is controlled by the self-proclaimed Sahrawi Arab Democratic Republic (SADR); the remaining 80% of the territory is occupied and administered by neighboring Morocco. It has a surface area of 266000 km2. It is the second most sparsely populated country in the world and the most sparsely populated in Africa, mainly consisting of desert flatlands. The population is estimated at just over 500,000, of which nearly 40% live in Laayoune, the largest city in Western Sahara.

    Occupied by Spain until 1975, Western Sahara has been on the United Nations list of non-self-governing territories since 1963 after a Moroccan demand. It is the most populous territory on that list, and by far the largest in area. In 1965, the United Nations General Assembly adopted its first resolution on Western Sahara, asking Spain to decolonize the territory. One year later, a new resolution was passed by the General Assembly requesting that a referendum be held by Spain on self-determination. In 1975, Spain relinquished administrative control of the territory to a joint administration by Morocco, which had formally claimed the territory since 1957 and Mauritania. A war erupted between those countries and a Sahrawi nationalist movement, the Polisario Front, which proclaimed itself the rightful leadership of the SADR with a government in exile in Tindouf, Algeria. Mauritania withdrew its claims in 1979, and Morocco eventually secured de facto control of most of the territory, including all major cities and most natural resources. The United Nations considers the Polisario Front to be the legitimate representative of the Sahrawi people, and maintains that the Sahrawis have a right to self-determination.