Moroccan Dirham
a.k.a. MAD
Morocco's currency, managed against a basket made mostly of euros and dollars.
In plain English
Morocco's currency, managed against a basket made mostly of euros and dollars.
The Moroccan dirham (MAD) is Morocco's money. Rather than letting it float freely, Morocco's central bank manages it against a basket made of the euro and the US dollar, with the euro carrying the larger weight because so much of Morocco's trade is with Europe. It may move only within a band around that basket, and the country has been slowly widening the band over the years.
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