Converting from Moroccan Dirham (MAD) to Indian Rupee (INR)

What is Moroccan Dirham (MAD)

The Moroccan Dirham, abbreviated as MAD, is the official currency of Morocco. It is symbolized by "DH" or sometimes "MAD," and it is subdivided into 100 centimes. The Dirham was introduced in 1960, replacing the previous currency used in Morocco. The value of the Dirham is managed by the Bank Al-Maghrib, which is the central bank of Morocco.

The Dirham is widely accepted in various forms, including bank notes and coins, with bank notes available in denominations of 20, 50, 100, and 200 MAD. Coins are available in 1, 2, 5, and 10 MAD, as well as in centime denominations. The currency is known for its relative stability in the North African region, influenced by trade, tourism, and remittances from abroad.

When considering travel or investment in Morocco, understanding the Dirham’s value and its exchange rate against other currencies is important. For example, the exchange rate fluctuations can impact how much a traveler spends or how much value is received when converting money.

What is Indian Rupee (INR)

The Indian Rupee, represented by the symbol "₹" and abbreviated as INR, is the official currency of India. It was introduced in its modern form in 1540 during the rule of Sher Shah Suri but has evolved significantly through the years. The current version of the Indian Rupee is issued and regulated by the Reserve Bank of India, which is the country’s central banking institution.

The Indian Rupee is subdivided into 100 paise, although coins in paise are not commonly used in daily transactions anymore. The most widely used denominations in notes are ₹10, ₹20, ₹50, ₹100, ₹200, ₹500, and ₹2000. The value of the Rupee can fluctuate due to various economic factors, including inflation, trade balances, and monetary policies in India and abroad.

Converting currencies from MAD to INR can be useful for those traveling from Morocco to India or for individuals engaging in trade between the two countries. To find the current exchange rate, one can consult financial news platforms or forex trading websites, as the rates can vary throughout the day based on market conditions.

To perform the conversion, you may use the formula:

Amount in INR = Amount in MAD × Exchange Rate (MAD to INR)

For example, if the exchange rate is 1 MAD = 7.40 INR, converting 100 MAD would yield:

100 MAD × 7.40 INR/MAD = 740 INR

Understanding these currencies enhances financial dealings and travel experiences between Morocco and India, fostering better cross-cultural exchanges.