Navigating Moroccan Currency: Your Guide to Dirhams and Beyond

The official currency of Morocco is the Moroccan Dirham (MAD). While you might be tempted to bring Euros or US Dollars, relying solely on them isn’t the most practical approach. While some larger establishments, particularly those catering to tourists, might accept foreign currency, you’ll almost always receive a less favorable exchange rate. For the best experience and to avoid potential hassles, using Dirhams is highly recommended for most transactions.

Understanding the Moroccan Dirham

The Dirham is subdivided into 100 centimes. Banknotes come in denominations of 20, 50, 100, and 200 Dirhams. Coins are available in 1, 5, and 10 Dirhams, as well as 5, 10, 20, and 50 centimes. Familiarize yourself with the different denominations to avoid confusion when making purchases. Recognizing the different bill sizes and colors will quickly become second nature, making transactions smoother and more efficient.

Exchanging Currency: A Strategic Approach

The best way to obtain Dirhams is upon arrival in Morocco. While you can order Dirhams from your bank before departure, the exchange rates are typically less competitive than those you’ll find in Morocco itself.

• Airports: Moroccan airports like Casablanca’s Mohammed V International Airport or Marrakech-Menara Airport offer currency exchange booths. These are convenient for getting some initial Dirhams upon arrival. However, be aware that airport exchange rates are generally less favorable compared to other options. Exchange just enough to cover your immediate needs, such as transportation to your accommodation.
• Banks: Moroccan banks offer generally competitive exchange rates. Major banks like Attijariwafa Bank, BMCE Bank (Bank of Africa), and Société Générale Maroc operate branches throughout the country, especially in cities. You’ll typically need to present your passport for identification when exchanging currency.
• Bureau de Change: These are exchange offices dedicated solely to currency exchange. They are commonly found in tourist areas and offer competitive rates, but always compare rates between different bureaus before making a transaction. Look for clearly displayed rates and ask about any commission fees beforehand.
• ATMs: ATMs are widely available in Moroccan cities and towns. They dispense Dirhams, and using your debit or credit card is often a convenient way to withdraw local currency. Be aware of potential international transaction fees charged by your bank. Inform your bank of your travel plans to avoid having your card blocked.

Payment Options Beyond Cash

While cash is king in Morocco, especially in souks (markets) and smaller establishments, credit and debit cards are becoming increasingly accepted, particularly in hotels, larger restaurants, and retail stores in tourist areas. Visa and Mastercard are the most widely accepted card types. However, don’t assume card payment is always an option, especially outside major cities. Always carry sufficient cash as a backup.

Bargaining and Currency Awareness

Bargaining is a common practice in Moroccan markets. While prices may initially be quoted in Euros to appeal to tourists, insist on paying in Dirhams for the best deal. Knowing the current exchange rate is essential for effective bargaining. Use a currency converter app on your phone to stay informed. Remember, a little friendly negotiation is part of the Moroccan experience.

Frequently Asked Questions (FAQs) About Moroccan Currency

Here are some common questions travelers have regarding currency in Morocco:

1. Can I use US Dollars or Euros in Morocco? While some tourist-oriented businesses might accept them, it is not generally recommended due to unfavorable exchange rates and potential inconveniences. Using Dirhams is preferable.

2. What is the current exchange rate between the Dirham and other major currencies? Exchange rates fluctuate daily. Use a reputable online currency converter or check with a bank or bureau de change for the most up-to-date rates.

3. Are there any restrictions on bringing foreign currency into Morocco? There are no restrictions on bringing foreign currency into Morocco. However, you must declare amounts exceeding 100,000 Moroccan Dirhams (or equivalent in foreign currency) upon arrival.

4. Are there restrictions on exporting Moroccan Dirhams? Yes, the export of Moroccan Dirhams is generally restricted. You can typically only take out a small amount of Dirhams, usually intended for souvenirs. It’s best to exchange any remaining Dirhams back into your home currency before leaving.

5. Should I exchange currency before I arrive in Morocco? It’s generally better to wait until you arrive in Morocco to exchange your currency for Dirhams. You’ll usually find more competitive exchange rates within Morocco.

6. What are typical ATM fees in Morocco? ATM fees vary depending on the bank and your own bank’s policies. Check with your bank about potential international transaction fees and ATM usage fees. Some ATMs may also charge a small fee for withdrawals.

7. Is it safe to use ATMs in Morocco? ATMs in Morocco are generally safe, particularly those located within bank branches or well-lit public areas. Exercise the same precautions you would when using ATMs in any foreign country. Be aware of your surroundings and protect your PIN.

8. Are traveler’s checks accepted in Morocco? Traveler’s checks are becoming increasingly uncommon and are not widely accepted in Morocco. It’s best to rely on cash, credit cards, and ATM withdrawals.

9. What should I do with leftover Dirhams before leaving Morocco? Exchange any remaining Dirhams back into your home currency at the airport or a bureau de change before departing.

10. Is tipping customary in Morocco? Tipping is customary in Morocco for good service. A tip of 10-15% is appreciated in restaurants. Also, consider tipping porters, taxi drivers, and guides for their services.

11. Are credit card transactions secure in Morocco? Credit card transactions in reputable establishments are generally secure. However, exercise caution when using your card in smaller shops or markets. Monitor your bank statements regularly for any unauthorized transactions.

12. What is “baksheesh” in Morocco? “Baksheesh” is a term for a small tip or gratuity, sometimes requested for minor services. It can be given for anything from helping with directions to carrying bags. While not always mandatory, it’s often appreciated and can facilitate smooth interactions.

Final Thoughts: Embrace the Dirham

Navigating the currency landscape in Morocco doesn’t have to be daunting. By understanding the importance of using Dirhams, knowing where to exchange your money, and being aware of payment options, you can ensure a seamless and enjoyable travel experience. So, embrace the Dirham, practice your bargaining skills, and immerse yourself in the vibrant culture of Morocco!