South African rand moroccan dirham exchange rate history (ZAR MAD) August 2023

South African rand moroccan dirham history for August 2023. The highest quote for this month is 0.53901 (01/08/2023) and the lowest 0.5348 (01/08/2023). The difference between high and low is 0.78.

ZAR MAD average rate for August 2023 is 0.52076, the change between 01/08/2023 and 31/08/2023 is +5 %.

01 August 2023	1 ZAR = 0.5516 MAD
02 August 2023	1 ZAR = 0.5406 MAD
03 August 2023	1 ZAR = 0.5210 MAD
04 August 2023	1 ZAR = 0.5269 MAD
07 August 2023	1 ZAR = 0.5078 MAD
08 August 2023	1 ZAR = 0.5094 MAD
09 August 2023	1 ZAR = 0.4964 MAD
10 August 2023	1 ZAR = 0.4968 MAD
11 August 2023	1 ZAR = 0.5034 MAD
12 August 2023	1 ZAR = 0.5212 MAD
14 August 2023	1 ZAR = 0.5020 MAD
15 August 2023	1 ZAR = 0.5172 MAD
16 August 2023	1 ZAR = 0.5158 MAD
17 August 2023	1 ZAR = 0.5162 MAD
18 August 2023	1 ZAR = 0.5209 MAD
20 August 2023	1 ZAR = 0.5257 MAD
21 August 2023	1 ZAR = 0.5019 MAD
22 August 2023	1 ZAR = 0.5263 MAD
23 August 2023	1 ZAR = 0.5323 MAD
24 August 2023	1 ZAR = 0.5414 MAD
25 August 2023	1 ZAR = 0.5343 MAD
28 August 2023	1 ZAR = 0.5220 MAD
29 August 2023	1 ZAR = 0.5314 MAD
30 August 2023	1 ZAR = 0.5326 MAD
31 August 2023	1 ZAR = 0.5240 MAD

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 South African rand Moroccan dirham