What is the monetary unit of Morocco?
"large opening towards the outside world. In the Arab world, Morocco has the second-largest non-oil GDP, behind Egypt, as of 2017. Since the early 1980s, the Moroccan government has pursued an economic program toward accelerating real economic growth with the support of the International Monetary Fund, the World Bank, and the Paris Club of creditors. From 2018, the country's currency, the dirham, is fully convertible for current account transactions; reforms of the financial sector have been implemented; and state enterprises are being privatized. The major resources of the Moroccan economy are agriculture, phosphate minerals, and tourism. Sales of fish and"
"prices being displayed in Euro. Moroccan dirham The dirham ( ""dirham"", ""adrim"", , ; sign: DH; code: MAD) is the currency of Morocco. It is issued by the Bank Al-Maghrib, the central bank of Morocco. It is subdivided into 100 ""cents"" (Arabic: سنتيمات, singular: سنتيم). 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"
"Moroccan dirham The dirham ( ""dirham"", ""adrim"", , ; sign: DH; code: MAD) is the currency of Morocco. It is issued by the Bank Al-Maghrib, the central bank of Morocco. It is subdivided into 100 ""cents"" (Arabic: سنتيمات, singular: سنتيم). 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"
"Moroccan franc The franc () was the currency of French Morocco from 1921. It became the currency of all Morocco in 1957 and circulated until 1974. It was divided into 100 centimes (Arabic: سنتيم). Before the first World War, the Moroccan rial was worth 5 French francs. However, after the war, the franc's value fell, such that when the franc replaced the rial, it was at a rate of 10 francs = 1 rial. The Moroccan franc was equal in value to the French franc. When Spanish Morocco was united with the rest of Morocco, the franc replaced the Spanish"
"Moroccan franc The franc () was the currency of French Morocco from 1921. It became the currency of all Morocco in 1957 and circulated until 1974. It was divided into 100 centimes (Arabic: سنتيم). Before the first World War, the Moroccan rial was worth 5 French francs. However, after the war, the franc's value fell, such that when the franc replaced the rial, it was at a rate of 10 francs = 1 rial. The Moroccan franc was equal in value to the French franc. When Spanish Morocco was united with the rest of Morocco, the franc replaced the Spanish"
"Moroccan rial The rial was the currency of Morocco between 1882 and 1921. It was subdivided into 10 ""dirham"", each of 50 ""mazunas"". The rial was introduced when Morocco adopted a modern style coinage in 1882. It replaced a system consisting of copper falus, silver ""dirham"" and gold ""benduqi"". In Spanish Morocco, the rial was replaced by the Spanish peseta in 1912 at a rate of 1 rial = 5 pesetas. In French Morocco, the rial was replaced in 1921 by the franc at a rate of 1 rial = 10 francs. In 1882, silver ½, 1, 2½ and 5"
"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 santim replaced the franc. 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"
"Moroccan units of measurement A number of units of measurement were used in Morocco to measure length, mass, capacity, etc. Metric system has been compulsory in Morocco since 1923. A number of local units were used. Several units were used. These units were variable, not rigidly defined. Some units included: 1 cubit = 0.533 m 1 canna = 0.533 m 1 pic = 0.61 m 1 tonni = 1/8 pic. The code, covid, covado, cadee, or dhra was varied from 19.85 to 22.48 in (perhaps the best value was 20.92 in (0.531 3 m). Several units were used. These units"
"of Moroccan dirhams. For purchasing power parity comparisons, the U.S. Dollar is exchanged at over 8 Dirhams. Mean wages were $2.88 per man-hour in 2009. The following table shows the main economic indicators in 1980–2017. Morocco instituted a series of development plans to modernize the economy and increase production during the 1960s. Net investment under the five-year plan for 1960–64 was about $1.3 billion. The plan called for a growth rate of 6.2%, but by 1964 the growth rate had only reached only 3%. The main emphasis of the plan was on the development and modernization of the agricultural sector."
"The legal workweek in Morocco is 44 hours per week, which means by the summer of 2015 the Moroccan minimum wage for full-time employment will equal 30,796.48 DH / year on average 2566.37 DH / month (€228.51 / month according to the exchange rate on 29.04.2014). Interprofessional Guaranteed Minimum Wage The Interprofessional guaranteed minimum wage or ""salaire minimum interprofessionnel garanti"" ('SMIG') was the first statutory minimum wage in France, adopted in 1950. A number of former French colonies also have or have previously had a law with that name or a similar name. This article, adapted from the French Wikipedia"
"1956, which continued to circulate until a new currency was introduced. The French minted coins with denomination of francs, which were divided into 100 centimes. This was replaced in 1960 with the reintroduction of the dirham, Morocco's current currency. The Algeciras Conference gave concessions to the European bankers, ranging from a newly formed State Bank of Morocco, to issuing banknotes backed by gold, with a 40-year term. The new state bank was to act as Morocco's Central Bank, but with a strict cap on the spending of the Sherifian Empire, with administrators appointed by the national banks that guaranteed the"
"growth, seems to be doing a good job. Morocco has largely had low levels of inflation. In 2006, its annual inflation was only 2.7%. The central bank plays a preeminent role in the country’s banking system. It issues the Moroccan dirham, maintains Morocco’s foreign currency reserves, controls the credit supply, oversees the government’s specialized lending organizations, and regulates the commercial banking industry. In 2007 the capitalisation of the Moroccan stock market increased by 40.5% to Dh586.3bn ($76.2bn), up from the Dh417.1bn ($54.2bn) recorded the previous year. This substantial jump is largely attributed to the 10 new share issues on the"
"dirham and 1 rial coins were issued whilst, in 1902, bronze 1, 2, 5 and 10 mazunas were introduced. Although there were several design changes, these denominations remained otherwise unchaged until 1921. The only paper money issued denominated in rial were issued by the Banque d'Etat du Maroc between 1910 and 1917. These were also denominated in francs, with denominations of 4 rial (20 francs) and 20 rial (100 francs). Moroccan rial The rial was the currency of Morocco between 1882 and 1921. It was subdivided into 10 ""dirham"", each of 50 ""mazunas"". The rial was introduced when Morocco adopted"
"left of the portrait, demonstrating the richness of the country's architectural heritage, and symbolizing the openness of the country. Popular denominations are words widely used in Morocco to refer to different values of the currency; they are not considered official by the state, though. Those include the ""rial"" (), equivalent to 5 santimat, and the ""franc"" , equivalent to 1 santim. Usually, when dealing with goods with a value lower than a dirham, it is common to use the rial or santim. For very high priced goods, such as cars, it is normative to refer to the price in santimat."
"Bank Al-Maghrib The Bank Al-Maghrib is the central bank of the Kingdom of Morocco. It was founded in 1959 as the successor to the ""Banque d'Etat du Maroc"" (est. 1906). In 2008 Bank Al-Maghrib held reserves of foreign currency with an estimated worth of US$36 billion. In addition to currency management, the Bank Al-Maghrib also supervises a number of private banks supplying commercial banking services. The bank has a branch in Casablanca, and agencies in 18 other cities in Morocco. The current governor is Abdellatif Jovahri. The bank is a member of the Alliance for Financial Inclusion and active in"
"of the National Council of Credit and the Committee of Credit Establishments, reinforced Bank Al-Maghrib's autonomy in banking supervision, and instituted a number of other measures covering the protection of clients of credit institutions and the treatment of credit institutions in distress. Bank Al-Maghrib The Bank Al-Maghrib is the central bank of the Kingdom of Morocco. It was founded in 1959 as the successor to the ""Banque d'Etat du Maroc"" (est. 1906). In 2008 Bank Al-Maghrib held reserves of foreign currency with an estimated worth of US$36 billion. In addition to currency management, the Bank Al-Maghrib also supervises a number"
"of the following: In January 2017, Morocco banned the manufacturing, marketing and sale of the burqa. Mohammed VI is Morocco's leading businessman and banker. In 2015, he was estimated by ""Forbes"" magazine to be worth US$5.8 billion, and the Moroccan Royal Family has one of the largest fortunes in the world. Along with his family, they hold the majority stakes in the Société Nationale d'Investissement (SNI), which was originally state-owned but was merged in 2013 with Omnium Nord Africain (ONA Group), to form a single holding company that was taken off the Casablanca Stock Exchange—resulting in the scrapping of an"
"Morocco Morocco (; ; ), officially the Kingdom of Morocco (; ), is a country located in the Maghreb of North West Africa with an area of . Its capital is Rabat, the largest city Casablanca. It overlooks the Mediterranean Sea to the north and the Atlantic Ocean to the west, bordered to the east by Algeria and to the south by Mauritania. Morocco claims the areas of Ceuta, Melilla and Peñón de Vélez de la Gomera, all of them currently under Spanish jurisdiction. Since the foundation of the first Moroccan state by Idris I in 788 AD, the country"
"Spanish colony that was annexed by Morocco in 1975 (see Green March). Morocco claims that the Western Sahara is part of its territory and refers to that as its Southern Provinces. Morocco's capital city is Rabat; its largest city is its main port, Casablanca. Other cities recording a population over 500,000 in the 2014 Moroccan census are Fes, Marrakesh, Meknes, Salé and Tangier. Morocco is represented in the ISO 3166-1 alpha-2 geographical encoding standard by the symbol ""MA"". This code was used as the basis for Morocco's internet domain, .ma. The country's Mediterranean climate is similar to that of southern"
"Foreign relations of Morocco Morocco is a member of the United Nations and belongs to the African Union, Arab League, Arab Maghreb Union (UMA), Organisation of Islamic Cooperation (OIC), the Non-Aligned Movement and the Community of Sahel-Saharan States (CEN_SAD). Morocco's relationships vary greatly between African, Arab, and Western states. Morocco has had strong ties to the West in order to gain economic and political benefits. France and Spain remain the primary trade partners, as well as the primary creditors and foreign investors in Morocco. From the total foreign investments in Morocco, the European Union invests approximately 73.5%, whereas, the Arab"
"conditions having been reconciled with urban living conditions. Morocco was a protectorate of France from 1912 until 1956, just a few years after the French government had introduced the SMIG minimum wage in France. French remains a recognized national language of Morocco and French legal influences like the SMIG continue up to the present. The ""interprofessional guaranteed minimum wage"" (SMIG) currently refers in Morocco to the country's hourly minimum wage in force now. As its name suggests, the minimum wage applies to all professional bodies with the notable exception of agricultural occupations. As France had done in 1950, Morocco made"
"Mithqal Mithqāl () is a unit of mass equal to 4.5 grams which is mostly used for measuring precious metals, such as gold, and other commodities, like saffron. The name was also applied as an alternative term for the gold dinar, a coin that was used throughout much of the Islamic world from the 8th century onward and survived in parts of Africa until the 19th century. The name of Mozambique's currency since 1980, the ""metical"", is derived from ""mithqāl"". The word ""mithqāl"" (; “weight, unit of weight”) comes from the Arabic ""thaqala"" (), meaning “to weigh”. Other variants of"
"Casablanca Casablanca (; ; local informal name: ""Kaẓa""), located in the central-western part of Morocco and bordering the Atlantic Ocean, is the largest city in Morocco. It is also the largest city in the Maghreb region, as well as one of the largest and most important cities in Africa, both economically and demographically. Casablanca is Morocco's chief port and one of the largest financial centers on the continent. According to the 2014 population estimate, the city has a population of about 3.35 million in the urban area and over 6.8 million in the Casablanca-Settat region. Casablanca is considered the economic"
"2011 and then to 12.24 DH / hour from 1 July 2012 . Regarding the agricultural and forestry sector, the minimum daily wage will be at 60.63 DH as of 1 July 2011 and will be of 63.39 DH from 1 July 2012. So between 2008 and 2012 the minimum wage increased from 9.66 DH / h to 12.24 DH / h an increase of 26.7%. In 2014, the Moroccan government announced the increase of the minimum wage by 5% in July 2014 and 5% in July 2015 to move from 12,85DH / h 13,46DH / h in summer 2015."
"On 2009-03-07 at 02:00 UTC, phone numbers in Morocco got another additional digit. A 5 was prepended to all fixed numbers while a 6 was prepended to mobile numbers. The 08 numbers became 080 and 09 became 089. Telephone numbers in Morocco All phone numbers in Morocco are 9 digits in length (excluding the leading 0). Morocco uses a closed numbering plan, i.e. the area code is not omitted for local calls. This is necessary because Morocco makes heavy use of overlay codes, i. e. the same geographic area can be served by several area codes. Casablanca, for instance, has"
"warfare with Moroccan forces since the 1970s. Morocco is a member of the United Nations and belongs to the African Union (AU), Arab League, Arab Maghreb Union (UMA), Organisation of Islamic Cooperation (OIC), the Non-Aligned Movement and the Community of Sahel-Saharan States (CEN_SAD). Morocco's relationships vary greatly between African, Arab, and Western states. Morocco has had strong ties to the West in order to gain economic and political benefits. France and Spain remain the primary trade partners, as well as the primary creditors and foreign investors in Morocco. From the total foreign investments in Morocco, the European Union invests approximately"
"Telephone numbers in Morocco All phone numbers in Morocco are 9 digits in length (excluding the leading 0). Morocco uses a closed numbering plan, i.e. the area code is not omitted for local calls. This is necessary because Morocco makes heavy use of overlay codes, i. e. the same geographic area can be served by several area codes. Casablanca, for instance, has 10 area codes. Fixed and mobile area codes belong exclusively to one phone company. On the following list, fixed networks are indicated by the following letters: I = Itissalat Al-Maghrib (fixed), M = Médi Telecom (NGN), W ="
"an extension for 20 years of its right to issue money. However, in 1958, the Moroccan government commenced negotiations with France and the Banque to reclaim for itself the right to issue money. Decree n° 1.59.233 of 30 June 1959 created the Banque du Maroc, which took over the issuance of money the next day, and replaced the Banque d'Etat du Maroc. In October, the Banque du Maroc issued a new currency, the dirham. The Banking Act of 21 April 1967 enhanced the role of ""Banque du Maroc"", particularly in the field of banking supervision. In 1974, the Banque du"
"that the dirham has become badly overvalued, the current account deficit remains modest. Foreign exchange reserves were strong, with more than $7 billion in reserves at the end of 2001. The combination of strong foreign exchange reserves and active external debt management gives Morocco the capacity to service its debt. Current external debt stands at about $16.6 billion. Economic growth, however, has been erratic and relatively slow, partially because of an over-reliance on the agricultural sector. Agriculture production is extremely susceptible to rainfall levels and ranges from 13% to 20% of GDP. Given that 36% of Morocco's population depends directly"
"to 19. Mithqal Mithqāl () is a unit of mass equal to 4.5 grams which is mostly used for measuring precious metals, such as gold, and other commodities, like saffron. The name was also applied as an alternative term for the gold dinar, a coin that was used throughout much of the Islamic world from the 8th century onward and survived in parts of Africa until the 19th century. The name of Mozambique's currency since 1980, the ""metical"", is derived from ""mithqāl"". The word ""mithqāl"" (; “weight, unit of weight”) comes from the Arabic ""thaqala"" (), meaning “to weigh”. Other"
"were variable, not rigidly defined. Some units included: 1 rotal = 507.5 g 1 artal = 507.5 g 1 gerbe = 3 kg 1 kula = 22 rotal 1 kantar = 100 rotal. One rotl of commerce was equal to 1.19 lb while one rotl of the markets was equal to 1.7 lbs. Several units were used. These units were variable, not rigidly defined. Some units included: 1 sahh = 56 l 1 fanega = 56 l 1 mudd = 14 l 1 almude = 14 l. Moroccan units of measurement A number of units of measurement were used in"
"tourist destinations. Most of the demand in Morocco is for moderate housing, and a decrease in lending rates has made home-ownership easier. Services, including government and military expenditures, account for about one-fourth of Morocco's GDP. Government spending accounts for fully half of the service economy, despite an ongoing effort on the part of the government to sell much of its assets to private concerns. Since the mid-1980s tourism and associated services have been an increasingly significant sector of the Moroccan economy and by the late 1990s had become Morocco's largest source of foreign currency. During that time the Moroccan government"
"The high cost of imports, especially of petroleum imports, is a major problem. Morocco suffers both from structural unemployment and a large external debt. Morocco is a fairly stable economy with continuous growth over the past half-century. Current GDP per capita grew 47% in the 1960s, reaching a peak growth of 274% in the 1970s. However, this proved unsustainable and growth scaled back sharply to just 8.2% in the 1980s and 8.9% in the 1990s. This is a chart of trend of gross domestic product of Morocco at market prices estimated by the International Monetary Fund with figures in millions"