Morocco FX Analytics · Dirham rate

The dirham exchange rate

Name: Moroccan dirham exchange rates
Creator: Morocco FX Analytics
License: https://creativecommons.org/licenses/by-nc/4.0/

What is the dirham worth? Bank Al-Maghrib reference rate (mid). daily (business days) points · depth 2022-01-03 → 2026-11-02. A rise in the rate = dirham depreciation (pressure).

Latest BAM fixing · November 2, 2026 Source · Bank Al-MaghribUnit · MAD per 1 unit Frequency · daily (business days)

EUR/MAD & USD/MAD

Reference rate (mid) · daily (business days)

Moving average (30 readings)

Summary

As of November 2, 2026, the EUR/MAD rate stands at 11.0044.

Year on year, up 2.6415%.

Close to the average 2022–2026 (10.7500).

The moving average is computed over 30 consecutive readings (business days). Data frequency: daily (business days) — 30 readings span roughly ~30 days and smooth the medium-term trend. On “1 month”, too few points are available: the moving average is then hidden.

Rolling annualized volatility

Standard deviation of changes × √252 · 20 & 60-point windows

Summary

As of November 2, 2026, EUR/MAD annualized volatility stands at 5.8%.

Year on year, up 81.0%.

Above the average 2022–2026 (4.7).

Multi-currency — rates & changes at a given date

Reference rate · % changes · table frozen at the selected date

Date:

Breakdown of the dirham basket

The dirham is pegged to a basket of ~60% euro / 40% dollar. When MAD/EUR moves, is it the dirham that's changing or the global euro-dollar pair? Three curves: MAD/EUR (BAM), EUR/USD (ECB), synthetic MAD/USD (= MAD/EUR ÷ EUR/USD).

When MAD/EUR and EUR/USD rise together, it's the euro-dollar pair that's moving — the dirham has nothing to do with it. When MAD/EUR moves on its own (EUR/USD flat), it's the dirham shifting within its basket. The synthetic MAD/USD (dotted) isolates the component specific to the dirham.

Base 100: comparable % changes · Dual axis: actual values

Summary

As of November 2, 2026, the MAD/EUR and MAD/USD indices stand at 104.8 and 106.5 (base 100 = January 3, 2022).

Year on year, up 5.8%.

Close to the average 2022–2026 (106.1).

Cross-check: synthetic MAD/USD vs actual BAM USD/MAD — average error 0.09%, max 1.54% (1182 points). The residual gap comes from the timing difference between the ECB fixing (14:15 CET) and BAM (end of day). EUR/USD source: ECB via Frankfurter · 1182 points · 2022-01-03 → 2026-11-02.