Moroccan dirham south african rand exchange rate history (MAD ZAR) August 2023

Moroccan dirham south african rand history for August 2023. The highest quote for this month is 2.0268 (09/08/2023) and the lowest 2.0063 (09/08/2023). The difference between high and low is 1.01.

MAD ZAR average rate for August 2023 is 1.9217, the change between 01/08/2023 and 31/08/2023 is -5.26 %.

01 August 2023	1 MAD = 1.813 ZAR
02 August 2023	1 MAD = 1.850 ZAR
03 August 2023	1 MAD = 1.919 ZAR
04 August 2023	1 MAD = 1.898 ZAR
07 August 2023	1 MAD = 1.969 ZAR
08 August 2023	1 MAD = 1.963 ZAR
09 August 2023	1 MAD = 2.015 ZAR
10 August 2023	1 MAD = 2.013 ZAR
11 August 2023	1 MAD = 1.986 ZAR
12 August 2023	1 MAD = 1.919 ZAR
14 August 2023	1 MAD = 1.992 ZAR
15 August 2023	1 MAD = 1.934 ZAR
16 August 2023	1 MAD = 1.939 ZAR
17 August 2023	1 MAD = 1.937 ZAR
18 August 2023	1 MAD = 1.920 ZAR
20 August 2023	1 MAD = 1.902 ZAR
21 August 2023	1 MAD = 1.992 ZAR
22 August 2023	1 MAD = 1.900 ZAR
23 August 2023	1 MAD = 1.879 ZAR
24 August 2023	1 MAD = 1.847 ZAR
25 August 2023	1 MAD = 1.872 ZAR
28 August 2023	1 MAD = 1.916 ZAR
29 August 2023	1 MAD = 1.882 ZAR
30 August 2023	1 MAD = 1.878 ZAR
31 August 2023	1 MAD = 1.908 ZAR

15/09/2021: Digitization of the Moroccan dirham

Morocco announced plans to digitize the dirham, introducing a central bank digital currency (CBDC) for financial transactions in the country.

23/03/2020: COVID-19 Pandemic Impact

The rand experienced significant volatility and depreciation as a result of the COVID-19 pandemic, affecting the country's economy and trade balance.

02/06/2014: Introduction of the fourth dirham

Another series of Moroccan dirham banknotes was issued, featuring new designs and enhanced security features.

15/12/2008: Global Financial Crisis Impact

The rand plunged against major currencies due to the global financial crisis and concerns about South Africa's economic stability.

02/07/2005: Dirham's exchange rate floatation

Morocco moved to a floating exchange rate regime, allowing the dirham to fluctuate based on market forces.

09/11/2001: Rand Weakens to Record Low

The rand weakened to an all-time low against the US dollar, due to global economic uncertainty and domestic political concerns.

01/05/1999: Introduction of the third dirham

A new series of Moroccan dirham banknotes was introduced with enhanced security features.

01/01/1995: Establishment of Reserve Bank Independence

The South African Reserve Bank gained independence, allowing it to have more control over monetary policy.

27/04/1994: First Democratic Elections

The first democratic elections were held in South Africa, marking the end of apartheid and bringing political stability, positively affecting the rand's value.

01/08/1982: Currency Decimalization

The rand was decimalized, with 1 rand being equal to 100 cents.

12/12/1980: Introduction of the second dirham

A new series of Moroccan dirham banknotes was issued to replace the first series.

17/10/1974: Adoption of the dirham as the currency

The Moroccan franc was replaced by the Moroccan dirham (MAD) as the official currency.

14/09/1961: Introduction of the Rand

The South African rand was introduced as the official currency, replacing the South African pound.

26/11/1960: Introduction of the Moroccan franc (FRF)

The Moroccan franc was introduced as the official currency of Morocco.

Historic Moroccan dirham South African rand