Euro to Moroccan Dirham Exchange Rate Guide and History

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Posted Dec 27, 2024

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Euro currency banknote.
Credit: pexels.com, Euro currency banknote.

The euro to Moroccan Dirham exchange rate is a crucial aspect to consider when traveling to Morocco. The exchange rate has fluctuated over the years, with the Moroccan Dirham (MAD) being pegged to the euro.

In 2002, the Moroccan Dirham was pegged to the euro at a fixed rate of 10 MAD per euro. This peg has remained relatively stable since then.

Travelers to Morocco can expect to get around 9-10 MAD for every euro, depending on the current exchange rate. This can vary depending on the exchange rate at the time of travel.

Convert

To convert euros to Moroccan dirhams, you can use a currency converter like the one provided in the article. The converter shows the current exchange rate and how it's changed over time.

The exchange rate is approximately 10.379902 MAD for every 1 EUR. This means that if you have 100 EUR, you can exchange it for around 1,037.99 MAD.

Credit: youtube.com, How to exchange money in MOROCCO at BEST RATES with trick and tips.Must watch video before you go.

You can also use the converter to see how different amounts of euros convert to Moroccan dirhams. For example, 10,000 EUR is equivalent to 103,799.02 MAD.

To get the current exchange rate, simply type in the amount you want to convert and select EUR as the currency you want to convert from, and MAD as the currency you want to convert to.

Here's a quick reference table to help you convert euros to Moroccan dirhams:

Euro (EUR)Moroccan Dirham (MAD)
1 EUR10.379902 MAD
10 EUR103.799 MAD
100 EUR1,037.99 MAD
1,000 EUR10,379.9 MAD

Keep in mind that exchange rates can fluctuate, so it's always a good idea to check the current rate before making any conversions.

Exchange Rate Information

The exchange rate between the Euro and the Moroccan Dirham can be quite volatile, as you can see from the historical data.

On Thursday, January 16, 2025, 1 Euro was equivalent to 10.37990169 Moroccan Dirhams.

The exchange rate fluctuated throughout the week, with the smallest change occurring on Wednesday, January 15, 2025, at 0.0094816055 MAD.

On the other hand, the largest change happened on Saturday, January 11, 2025, at 0.0462718556 MAD.

Here's a summary of the exchange rate changes for the week:

DateChange
Thursday 01-16-20250.0190603524
Wednesday 01-15-20250.0094816055
Tuesday 01-14-20250.0630650561
Monday 01-13-20250.0162154158
Sunday 01-12-20250.0286438044
Saturday 01-11-20250.0462718556

The exchange rate was 10.30584525 Moroccan Dirhams for 1 Euro on Friday, January 10, 2025.

Understanding Exchange Rates

Credit: youtube.com, Moroccan Currency Explained for your Next Trip to Morocco 🇲🇦

Economic indicators, such as GDP growth, inflation, and interest rates, can significantly impact the EUR to MAD exchange rate.

These factors can be influenced by a country's overall economic health, which in turn affects the value of its currency.

GDP growth, for instance, can indicate a country's ability to produce goods and services, making its currency more attractive to investors.

Inflation, on the other hand, can erode the purchasing power of a currency, leading to a decrease in its value.

Interest rates set by central banks can also impact the exchange rate, as higher rates can attract foreign investors and increase the value of a currency.

Geopolitical events, such as elections and trade agreements, can also influence the exchange rate.

These events can create uncertainty and instability in the market, leading to fluctuations in the exchange rate.

Central bank decisions, such as interest rate changes, can affect the exchange rate.

For example, a decision to raise interest rates can attract foreign investors and increase the value of the currency.

Here are some key factors to consider when understanding exchange rates:

  • Economic indicators: GDP growth, inflation, and interest rates
  • Geopolitical events: elections and trade agreements
  • Central bank decisions: interest rate changes

Frequently Asked Questions

Is it better to use euros or dirhams in Morocco?

For most transactions in Morocco, it's best to use the local currency, Moroccan Dirhams (MAD), rather than Euros. While some places may accept Euros, using Dirhams will give you a wider range of options for shopping and dining.

Virgil Wuckert

Virgil Wuckert

Senior Writer

Virgil Wuckert is a seasoned writer with a keen eye for detail and a passion for storytelling. With a background in insurance and construction, he brings a unique perspective to his writing, tackling complex topics with clarity and precision. His articles have covered a range of categories, including insurance adjuster and roof damage assessment, where he has demonstrated his ability to break down complex concepts into accessible language.

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