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| Moroccan rial (pre-decimal) | |
|---|---|
| Name | Rial (pre-decimal) |
| Local name | ريـال |
| Introduced | 1882 |
| Withdrawn | 1960s |
| Subunit name | riyal (obsolete subdivisions) |
| Used in | Morocco |
| Issuing authority | Banque d'État du Maroc; Treasury of Morocco |
Moroccan rial (pre-decimal) was the principal currency of Morocco from the late 19th century into the mid-20th century, circulating during periods of the Alaouite dynasty, French protectorate in Morocco, and Spanish Protectorate in Morocco. It coexisted with regional coins, colonial currencies, and international tender used in Tangier and ports tied to the Port of Casablanca trade. The rial's history intersects with treaties, reforms, and institutions such as the Treaty of Madrid (1880), the Treaty of Fez (1912), and the establishment of the Banque d'État du Maroc.
The rial emerged amid fiscal reforms under sultans of the Alaouite dynasty reacting to pressures from European powers like France, Spain, Britain, and Germany after incidents including the Hispano-Moroccan War and diplomatic crises culminating in the Algeciras Conference (1906). Colonial arrangements following the Treaty of Fez (1912) and the creation of the French protectorate in Morocco profoundly affected the rial's status alongside the franc and peseta, while international zones such as Tangier International Zone and port treaties with Portugal and Italy complicated circulation. Monetary reform efforts involved the Banque d'État du Maroc, Moroccan ministries, and foreign banks like the Banque de l'Algérie and the Bank of England during the interwar period and post-World War II reconstruction involving the United Nations and decolonization movements leading to sovereignty milestones like Moroccan independence in 1956.
The rial was subdivided into fractional units that evolved: historic reckonings linked it to the dirham and the mazuna in older Moroccan numismatics, with multiple local denominations such as the santim and the falus appearing in regional practice. Official denominations appeared in silver and copper units influenced by Mediterranean standards from Spain, Ottoman Empire, and North African precedents found in Algeria and Tunisia. Circulating units reflected commercial ties to Marseilles, Gibraltar, and Liverpool markets, while special issues served tax, customs, and military payrolls tied to garrisons at Tetouan and Rabat.
Coinage under the rial combined traditional Moroccan minting techniques and modern presses imported from France and Great Britain, producing coins struck in silver, copper, and occasionally gold for high-value pieces used in diplomatic gift exchanges with delegations from Ottoman Empire and Egypt. Mintmarks and designs referenced sultans from the Alaouite dynasty and included Arabic inscriptions alongside dates in the Hijri calendar and Gregorian numerals familiar to merchants from Marseilles and Genoa. Rare mintages and trial pieces link to mints in Fez, provincial issues tied to Meknes, and emergency coins issued during wartime supply disruptions as seen during World War I and World War II.
Paper issues associated with the rial were produced by the Banque d'État du Maroc and by colonial treasury authorities, featuring Arabic calligraphy and French legends reflecting dual administrative control during the French protectorate in Morocco and Spanish zones under Francisco Franco's early influence in Spain. Designs included portraits and motifs referencing Moroccan sovereignty, trade ports like Casablanca and cultural sites such as the Koutoubia Mosque in Marrakesh, and were printed by firms in Paris, Madrid, and London. Banknotes circulated alongside foreign notes such as the French franc and the Spanish peseta in multilingual commerce across consular quarters like Tangier International Zone.
Monetary policy surrounding the rial was shaped by colonial fiscal strategies aligned with the Banque d'État du Maroc, directives from the French Treasury (Ministère des Finances), and Spanish administrative actions in northern zones centered on Ceuta and Melilla. Currency circulation patterns varied between urban centers such as Casablanca, Rabat, Tangier, and rural hinterlands with local markets in Safi and Essaouira retaining older specie. Exchange controls, pegging arrangements, and emergency measures during global shocks like the Great Depression influenced liquidity, while international negotiations involving delegations to Paris Peace Conference (1919)-era bodies and postwar Bretton Woods contexts affected convertibility and reserve practices.
Exchange rates for the rial shifted relative to the French franc, the Spanish peseta, the British pound sterling, and the US dollar as Morocco moved through protectorate arrangements into independence; governmental decrees and banking agreements pegged the rial at various parities to facilitate trade with France and Spain. The gradual move to modernize currency culminated in the replacement of the rial system with the decimalized Moroccan dirham in the 1960s under policies implemented by post-independence authorities including the Ministry of Finance (Morocco) and the Bank Al-Maghrib, completing a transition influenced by global decolonization and regional monetary consolidation reflected across North Africa.
Category:Currencies of Morocco Category:Obsolete currencies Category:History of Morocco