Have you ever dreamt of immersing yourself in the vibrant tapestry of Moroccan culture? From the mesmerizing maze-like streets of Marrakech to the breathtaking beauty of the Atlas Mountains, this North African gem offers a treasure trove of experiences awaiting exploration. But what currency do they use in Morocco, and where can you exchange your money? Fear not, fellow traveler, for I am here to guide you through this currency conundrum, ensuring you are well-equipped for your Moroccan adventure. So, grab your passport, pack your curiosity, and let’s embark on this journey together!
Currency in Morocco
Morocco, a country known for its vibrant culture and rich history, uses the Moroccan Dirham as its official currency. The currency holds great importance and is the only legal tender accepted in the country. If you are planning to visit Morocco, it is essential to have a good understanding of the currency and how to exchange money.
The Moroccan Dirham
The Moroccan Dirham (MAD) is the national currency of Morocco. It is further divided into smaller denominations called Santimat. One Dirham is equivalent to 100 Santimat. The banknotes in circulation come in denominations of 20, 50, 100, and 200 Dirhams, while the coins are available in 1, 2, 5, and 10 Dirhams.
Symbol and Code
The symbol for the Moroccan Dirham is “DH” and is often seen written as “د.م” in Arabic script. The currency code for the Moroccan Dirham is MAD, which is internationally recognized.
Exchanging Money in Morocco
When traveling to Morocco, it is crucial to have local currency in order to navigate your way through the country smoothly. Here are some options for exchanging money in Morocco:
Where to exchange money
There are various places where you can exchange your money in Morocco. Some common options include banks, exchange bureaus, ATMs, and even certain hotels and riads.
Banks
Banks in Morocco are usually the most reliable and secure option for exchanging currency. Most major banks offer currency exchange services for both tourists and locals. However, it is recommended to check their working hours and any applicable fees or charges before visiting a bank for currency exchange.
Exchange Bureaus
Exchange bureaus, also known as “bureaux de change,” are widespread throughout major cities and tourist areas in Morocco. These establishments specialize in currency exchange and often have competitive rates. It is advisable to compare rates across different bureaus to ensure you get the best possible exchange rate.
ATMs
ATMs are widely available in Morocco, especially in cities and popular tourist destinations. They provide a convenient way to withdraw cash in the local currency. To avoid any unnecessary fees, it is recommended to use ATMs that are affiliated with major banks. Keep in mind that some ATMs may have withdrawal limits, so plan accordingly.
Hotels and Riads
Certain hotels and riads in Morocco offer currency exchange services for their guests. While this can be a convenient option, it is important to check the exchange rates offered by these establishments, as they may not always be as favorable as those found at banks or exchange bureaus.
Tips for Exchanging Money
Here are some useful tips to keep in mind when exchanging money in Morocco:
Know the current exchange rate
Before exchanging your money, it is advisable to check the current exchange rate. This will give you an idea of how much local currency you will receive in exchange for your money. Online currency converters or mobile applications can help you stay informed about the latest exchange rates.
Avoid exchanging at the airport
While it may be tempting to exchange money at the airport upon arrival, the rates offered at airport exchange counters are typically not as competitive as those found elsewhere. It is recommended to exchange only a small amount at the airport for immediate expenses and then find a better exchange rate elsewhere in the city.
Consider withdrawing money from ATMs
Using ATMs to withdraw money can often provide you with a better exchange rate than exchanging physical currency. However, it is important to notify your bank prior to traveling to Morocco to avoid any issues with your card being blocked.
Keep small change
In Morocco, it is common to use cash for many transactions, especially in smaller establishments or local markets. Therefore, it is advisable to keep small change with you to make purchases more convenient and avoid any difficulties in receiving change for larger denominations.
Beware of counterfeit currency
While counterfeit currency is not a widespread issue in Morocco, it is always advisable to be cautious. Familiarize yourself with the security features of Moroccan Dirham banknotes to easily identify genuine currency. If you are uncertain about the authenticity of a banknote, consult with a bank or exchange bureau for assistance.
Using Credit Cards and Traveler’s Cheques
In addition to carrying cash, credit cards and traveler’s cheques are widely accepted in many establishments in Morocco. However, it is essential to note that credit card acceptance may vary, especially in smaller towns or rural areas. It is recommended to carry some cash as backup and inquire about credit card acceptance before making any purchases.
Acceptance of Credit Cards
Major credit cards such as Visa, Mastercard, and American Express are generally accepted in larger hotels, restaurants, and shopping centers across Morocco. However, it is advisable to carry some cash for smaller establishments or places that do not accept credit cards.
Using Traveler’s Cheques
Traveler’s cheques can be a safe and convenient way to carry money, as they can be easily replaced if lost or stolen. However, their usage has significantly declined over the years, and it may be challenging to find establishments that accept traveler’s cheques in Morocco. It is advisable to consult with banks or exchange bureaus to inquire about their acceptance and any associated fees.
Currency Restrictions and Import/Export
While there are no specific restrictions on the amount of foreign currency that can be brought into Morocco, it is recommended to declare amounts exceeding 10,000 Euros or equivalent upon arrival. The import and export of local currency, up to a maximum of 2,000 Dirhams, is allowed. Importing or exporting foreign currency is also permitted, but amounts exceeding 100,000 Dirhams or equivalent must be declared.
Understanding the currency in Morocco and knowing where to exchange money can greatly enhance your travel experience. By following the provided tips and being prepared with the appropriate currency, you can fully immerse yourself in the beauty and wonders that Morocco has to offer.