Moroccan Dirham Exchange Rates – January 8, 2025
Understanding the daily fluctuations of the Moroccan Dirham against other major currencies is crucial for both travelers and those involved in international trade. This article provides a snapshot of these exchange rates as of January 8, 2025, based on data from Bank Al-Maghrib (Morocco’s central bank). While these rates offer a valuable reference point, remember that exchange rates are dynamic and can shift based on various market factors. Always confirm current rates with your bank or exchange service before conducting transactions.
Key Exchange Rates for January 8, 2025:
The table below outlines the buying and selling rates for several major currencies against the Moroccan Dirham (MAD).
| Currency | Buy (MAD) | Sell (MAD) |
|---|---|---|
| Euro (EUR) | 9.7707 | 11.3551 |
| US Dollar (USD) | 9.4457 | 10.9775 |
| Canadian Dollar (CAD) | 6.5805 | 7.6477 |
| British Pound (GBP) | 11.787 | 13.699 |
| Gibraltar Pound (GIP) | 11.786 | 13.698 |
| Swiss Franc (CHF) | 10.386 | 12.07 |
| Saudi Riyal (SAR) | 2.5163 | 2.9243 |
| Kuwaiti Dinar (KWD) | 30.629 | 35.595 |
| UAE Dirham (AED) | 2.5717 | 2.9887 |
| Qatari Riyal (QAR) | 2.5911 | 3.0113 |
| Bahraini Dinar (BHD) | 25.055 | 29.119 |
| Japanese Yen (JPY) (100) | 5.9806 | 6.9504 |
| Omani Rial (OMR) | 24.535 | 28.513 |
Factors Influencing the Moroccan Dirham:
The value of the Moroccan Dirham, like any currency, is influenced by a complex interplay of factors. These include:
Global economic conditions: Events like recessions, economic growth in major economies, and changes in commodity prices (especially oil, given Morocco’s reliance on imports) can all impact the MAD. For example, a strengthening US dollar can often lead to a weakening of other currencies, including the Dirham. You can find more information on global economic influences on currencies at resources like the World Bank.
Domestic economic performance: Morocco’s own economic health, including factors like inflation, interest rates, and government policies, plays a significant role. The Bank Al-Maghrib’s monetary policy decisions are key drivers of the Dirham’s value. More information on Bank Al-Maghrib can be found on their official website.
Tourism: Morocco’s vibrant tourism sector contributes significantly to its foreign exchange reserves. Fluctuations in tourist arrivals can influence the demand for Dirhams.
Foreign investment: Increased foreign investment in Morocco can strengthen the Dirham, while capital flight can weaken it.
Tips for Exchanging Currency:
Compare rates: Don’t settle for the first exchange rate you see. Shop around at banks, exchange bureaus, and online platforms to find the most favorable rates.
Be aware of fees: Hidden fees and commissions can eat into your exchange value. Always ask about all associated costs before making a transaction.
* Consider using a credit or debit card: While these often come with foreign transaction fees, they can sometimes offer better overall value than exchanging large amounts of cash. Check with your card issuer for details.
This information is for general knowledge and does not constitute financial advice. Always consult with a qualified financial advisor before making any decisions related to currency exchange or investments.
