During the colonial history and in the first years of independence the Kingdom of Morocco was a member of the franc zone. Beginning with 1920 the moroccan frank was used in Morocco and it's rate was tied to the french frank until 1958. In the spanish zone of Morocco the peseta was in circulation. In 1959 there was a monetary reform and moroccan dirham, which replaced 100 french francs, was introduced. Nowadays 1 dirham equals 100 santimes.