The magnetic moment of a bar magnet is where qm is pole strength and 2l is length of magnet. Its direction is from − qm to + qm.
A current carrying solenoid when suspended freely stays in north-south direction and attracts bits of iron. This shows that a current loop behaves as a magnetic dipole.
The dipole moment of current loop is
m = NIA ampere – metre2
where N = number of turns in loop,
A = area of loop,
I = current in the loop.