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

Moroccan dirham south african rand history for December 2023. The highest quote for this month is 1.9411 (11/12/2023) and the lowest 1.931 (28/12/2023). The difference between high and low is 0.52.

MAD ZAR average rate for December 2023 is 1.86891, the change between 01/12/2023 and 31/12/2023 is +3.89 %.

01 December 2023	1 MAD = 1.930 ZAR
02 December 2023	1 MAD = 1.848 ZAR
03 December 2023	1 MAD = 1.848 ZAR
04 December 2023	1 MAD = 1.904 ZAR
05 December 2023	1 MAD = 1.865 ZAR
06 December 2023	1 MAD = 1.877 ZAR
07 December 2023	1 MAD = 1.878 ZAR
08 December 2023	1 MAD = 1.860 ZAR
10 December 2023	1 MAD = 1.868 ZAR
11 December 2023	1 MAD = 1.923 ZAR
12 December 2023	1 MAD = 1.935 ZAR
13 December 2023	1 MAD = 1.923 ZAR
14 December 2023	1 MAD = 1.831 ZAR
15 December 2023	1 MAD = 1.817 ZAR
16 December 2023	1 MAD = 1.813 ZAR
17 December 2023	1 MAD = 1.813 ZAR
18 December 2023	1 MAD = 1.859 ZAR
19 December 2023	1 MAD = 1.896 ZAR
20 December 2023	1 MAD = 1.814 ZAR
21 December 2023	1 MAD = 1.818 ZAR
22 December 2023	1 MAD = 1.824 ZAR
23 December 2023	1 MAD = 1.860 ZAR
24 December 2023	1 MAD = 1.860 ZAR
25 December 2023	1 MAD = 1.926 ZAR
26 December 2023	1 MAD = 1.922 ZAR
27 December 2023	1 MAD = 1.882 ZAR
28 December 2023	1 MAD = 1.873 ZAR
29 December 2023	1 MAD = 1.878 ZAR
31 December 2023	1 MAD = 1.855 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