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.