USD to MAD – US Dollar to Moroccan Dirham Exchange Rate Calculator

usd to mad us dollar to moroccan dirham

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The USD to MAD exchange rate has been volatile in recent weeks and could continue to move around. Some traders believe that the USD may be overvalued, while others believe that the MAD is undervalued. Let’s look into this a bit closer and analyze the charts and exchange rate history.

USD to MAD – A Brief History

The value of the US dollar (USD) has been steadily declining against the Moroccan dirham (MAD) for a while now. In January 2016, 1 USD was worth 8.8 MAD. As of July 2017, that same amount of USD is only worth 7.5 MAD – a depreciation of around 15%.

While this may seem like a bad thing at first, there are some potential benefits to be had from this trend. Firstly, it makes travelling to Morocco and doing business with Moroccan companies much cheaper for Americans. Secondly, it could make Moroccan products and services more attractive to American consumers, as they would be getting more bang for their buck.

Whether or not this trend will continue remains to be seen, but for now it looks like it will remain favorable for American visitors and businesses looking to do business with Morocco.

What country uses MAD as currency?

MAD is the currency of Morocco. It is sometimes abbreviated as “DH” or “Dh” and it is divided into 100 centimes. The symbol for MAD is “د.م.

!” The Moroccan dirham (DH) is the currency used for all financial transactions in Morocco, including those involving foreigners. It is also accepted as payment when purchasing certain goods and services at the airport or in other places throughout Morocco. 1 US dollar equals about 6 Moroccan dirham but of course this changes on a daily basis – so use our currency converter to check for the latest live exchange rates.

USD to MAD Currency Exchange Rates

The USD to MAD currency exchange rates have been relatively stable in the past few years. The highest recorded rate was 11.87 MAD per USD, and the lowest was 9.68 MAD per USD.

The average rate over the past year has been 10.77 MAD per USD, which is slightly higher than the average for the past 5 years of 10.50 MAD per USD. While there has been some variation in the rates, they have largely remained within a fairly narrow range.

Rounding to whole numbers may not be mathematically correct – e.g. 1.61 should be shown as 1.6 USD to MAD Currency Exchange Rates.

Financial Connection Between USA and Morocco

The Moroccan economy is growing and its currency, the dirham, is pegged to the U.S. dollar. The United States is Morocco’s top trade partner with bilateral trade totaling $6.3 billion in 2016.

The majority of this trade is in goods, with the United States exporting $5.5 billion in goods to Morocco and importing $783 million in 2016. The two countries have a long history of economic cooperation, including a free trade agreement which has been in place since 2004.

In 2015, the United States extended duty-free treatment for certain Moroccan exports through 2020.

One area where the United States and Morocco cooperate closely is in development assistance. The United States has been a leading donor to Morocco since it became independent in 1956 and committed over $2 billion in foreign assistance to Morocco between 2002 and 2016.

What Affects Exchange Rates in Morocco?

Exchange rates are determined by a number of factors, the most important of which are economic and political conditions. In Morocco, the exchange rate is also influenced by tourism and remittances.

The main factor affecting the exchange rate in Morocco is the relative strength of the dollar against other currencies. When the dollar is strong, it takes more Moroccan dirhams to buy a dollar, and the exchange rate goes down. When the dollar is weak, it takes fewer dirhams to buy a dollar, and the exchange rate goes up.

Another important factor affecting the Moroccan exchange rate is tourism. A large influx of tourists can push up demand for dirhams, raising the exchange rate. Conversely, a decline in tourism can lead to a lower exchange rate.

Remittances are another important driver of the Moroccan exchange rate. The Moroccan government establishes the official exchange rate for its currency, the dirham (MAD), which is published in the Moroccan Journal Officiel (J.O.) and on the website of Morocco’s Central Bank (“Banque Centrale de Maroc“). The J.O. is published in French and in Arabic. The exchange rate is updated daily at noon EET (GMT +2), and the exchange rate is published on the website of the Central Bank. The official exchange rate is determined by a fixed peg to USD.

You can read more about Forex trading and travel advise related to foreign exchange rates on our blog.

Moroccan Dirham – MAD Currency

The Moroccan Dirham is the currency of Morocco. The plural form is “Dirhams” and “Moroccan Dinar” refers to the unit of currency. The Dirham is divided into 100 centimes.

The dirham was first introduced in 1960, replacing the franc at a rate of 10 francs to 1 dirham. In 2002, following a period of instability, the dirham was pegged to the US dollar at a rate of 8.5:1.

How to exchange USD to MAD when Visiting Morocco

When traveling to Morocco, it is important to have MAD on hand. Luckily, it is easy to exchange USD to MAD when visiting the country. There are a few different ways to do this, so travelers can choose the option that best suits them. 

The most common way to exchange money in Morocco is through a currency exchange office or bank. These establishments can be found throughout the country, and most of them offer competitive rates. However, travelers should be aware of the commission that these places tend to charge. 

Another option for exchanging money is through an ATM. This can be a convenient option, as ATMs are widely available in Morocco. However, travelers should note that they will likely receive a lower exchange rate than what they would at a currency exchange office or bank.

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