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

Moroccan dirham south african rand history for October 2023. The highest quote for this month is 1.9626 (06/10/2023) and the lowest 1.9488 (09/10/2023). The difference between high and low is 0.7.

MAD ZAR average rate for October 2023 is 1.86693, the change between 01/10/2023 and 31/10/2023 is +0.15 %.

01 October 2023	1 MAD = 1.835 ZAR
02 October 2023	1 MAD = 1.897 ZAR
03 October 2023	1 MAD = 1.862 ZAR
04 October 2023	1 MAD = 1.869 ZAR
05 October 2023	1 MAD = 1.876 ZAR
06 October 2023	1 MAD = 1.951 ZAR
07 October 2023	1 MAD = 1.880 ZAR
09 October 2023	1 MAD = 1.962 ZAR
10 October 2023	1 MAD = 1.905 ZAR
11 October 2023	1 MAD = 1.852 ZAR
12 October 2023	1 MAD = 1.838 ZAR
13 October 2023	1 MAD = 1.856 ZAR
16 October 2023	1 MAD = 1.918 ZAR
17 October 2023	1 MAD = 1.832 ZAR
18 October 2023	1 MAD = 1.835 ZAR
19 October 2023	1 MAD = 1.907 ZAR
20 October 2023	1 MAD = 1.845 ZAR
21 October 2023	1 MAD = 1.829 ZAR
22 October 2023	1 MAD = 1.839 ZAR
23 October 2023	1 MAD = 1.906 ZAR
24 October 2023	1 MAD = 1.836 ZAR
25 October 2023	1 MAD = 1.847 ZAR
26 October 2023	1 MAD = 1.865 ZAR
27 October 2023	1 MAD = 1.846 ZAR
28 October 2023	1 MAD = 1.834 ZAR
29 October 2023	1 MAD = 1.837 ZAR
30 October 2023	1 MAD = 1.885 ZAR
31 October 2023	1 MAD = 1.832 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