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.
17/06/2018: Introduction of New Banknotes
A new series of UAE dirham banknotes, featuring enhanced durability, 3D security features, and tactile marks for visually impaired individuals, is introduced.
02/06/2014: Introduction of the fourth dirham
Another series of Moroccan dirham banknotes was issued, featuring new designs and enhanced security features.
01/01/2007: Security Enhancements
New security features, including holograms and advanced anti-counterfeiting measures, are added to the UAE dirham banknotes.
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.
01/12/2002: Introduction of Modern Coinage
A new series of UAE dirham coins, featuring modern designs and security features, is introduced.
01/05/1999: Introduction of the third dirham
A new series of Moroccan dirham banknotes was introduced with enhanced security features.
20/03/1995: Currency Peg to US Dollar
The UAE dirham is pegged to the United States dollar at a fixed exchange rate of 1 USD to 3.6725 AED.
12/12/1980: Introduction of the second dirham
A new series of Moroccan dirham banknotes was issued to replace the first series.
01/01/1978: Currency Issuance Authority
The UAE Currency Issuing Authority is established, granting the authority to issue and manage the UAE dirham.
17/10/1974: Adoption of the dirham as the currency
The Moroccan franc was replaced by the Moroccan dirham (MAD) as the official currency.
28/01/1973: Decoupling from Pound Sterling
The UAE dirham is officially decoupled from the British pound sterling and a new exchange rate is set.
02/12/1971: Formation of UAE
The United Arab Emirates is formed, resulting in the introduction of the UAE dirham as its official currency.
26/11/1960: Introduction of the Moroccan franc (FRF)
The Moroccan franc was introduced as the official currency of Morocco.