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About this currency pair
Moroccan Dirham (MAD) — the currency of Morocco
The Moroccan dirham was restored after Morocco’s post-independence monetary reforms, reviving an older regional currency name. The Moroccan Dirham is used in Morocco, where it provides the reference for local prices, wages, public payments, bank accounts and invoices. Conversions are commonly used for remittances, import pricing, travel, development projects, commodity trade and comparisons with USD, EUR or regional currencies. The dirham name comes from a long regional monetary tradition and appears in several Middle Eastern and North African currencies.
Euro (EUR) — the shared currency of the eurozone
The euro is the shared currency of the eurozone, used across many European economies rather than a single country. It was introduced for accounting and electronic payments in 1999 and euro cash followed in 2002, making it a common reference for travel, online shopping, invoices, salaries, savings and cross-border business inside Europe. It is also one of the main currencies followed in global foreign-exchange markets.