1 Moroccan Dirham to Egyptian Pound Exchange Rate
The Moroccan Dirham (MAD) is the official currency of Morocco, while the Egyptian Pound (EGP) is the official currency of Egypt. If you're planning to travel or conduct business between these two countries, it's essential to know the exchange rate between the two currencies.
Current Exchange Rate
As of [current date], the exchange rate is:
1 Moroccan Dirham (MAD) = approximately 0.83 Egyptian Pound (EGP)
Please note that exchange rates can fluctuate constantly and may change rapidly, so it's always best to check the current rate before making any transactions.
History of the Exchange Rate
The exchange rate between the Moroccan Dirham and the Egyptian Pound has experienced some fluctuations over the years. In the past year, the highest exchange rate was around 0.87 EGP per 1 MAD, while the lowest rate was around 0.78 EGP per 1 MAD.
Factors Affecting the Exchange Rate
Several factors can influence the exchange rate between the Moroccan Dirham and the Egyptian Pound, including:
- Inflation rates: Differences in inflation rates between Morocco and Egypt can affect the exchange rate.
- Interest rates: Changes in interest rates in either country can impact the exchange rate.
- Political and economic stability: Political unrest or economic instability in either country can lead to changes in the exchange rate.
- Trade relationships: The balance of trade between Morocco and Egypt can also influence the exchange rate.
Tips for Travelers
If you're planning to travel from Morocco to Egypt or vice versa, here are some tips to keep in mind:
- Exchange your currency: Exchange your Moroccan Dirhams for Egyptian Pounds before arriving in Egypt, or vice versa, to avoid high exchange rates at airports or tourist areas.
- Use ATMs: You can withdraw local currency from ATMs using your debit or credit card, but be aware of any foreign transaction fees.
- Credit cards: Many businesses in Egypt, especially tourist-friendly establishments, accept major credit cards like Visa and Mastercard.
Remember to always check the current exchange rate before making any transactions to get the best deal.
