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). weekly points · depth 2022-01-04 → 2026-08-04. A rise in the rate = dirham depreciation (pressure).

Latest BAM fixing · August 4, 2026 Source · Bank Al-MaghribUnit · MAD per 1 unit Frequency · weekly

EUR/MAD & USD/MAD

Reference rate (mid) · weekly

Moving average (30 readings)

The moving average is computed over 30 consecutive readings (the points actually available), not 30 calendar days: BAM rates are not published daily. Data frequency here: weekly — 30 readings therefore 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 × √52 · 20 & 60-point windows

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

Cross-check: synthetic MAD/USD vs actual BAM USD/MAD — average error 0.08%, max 0.62% (454 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 · 454 points · 2022-01-04 → 2026-08-04.