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Currency and Banking in Morocco

Currency and Banking

The currency of Morocco is the Dirham (MHD, Dh, or MAD) and is subdivided into 100 centimes.

Moroccan Dirham is issued in banknotes (20, 50, 100 and 200 Dirham) and coins (1, 5, and 10 Dirham, and 5, 10, 20 and 50 centimes).

We suggest you keep aside low value Dirham notes and coins, since they are useful for tipping.

The Dirham is a restricted currency and is not generally available outside of the country although can now be purchased at some Bureau de Change overseas (generally at poor exchange rates).

Current Exchange Rate

The Dirham exchange spot rate is set by the Moroccan Government and varies hourly (it often appears to track the Euro), which is mirrored by the interbank spot rate.

The tourist purchase rate will be less than the spot rate.

Moroccan Banks

The main banks in Morocco are Banque Commercial du Maroc (BCM), Banque Marocaine du Commerce Exterieur (BMCE), Banque Marocaine du Commerce et de l'Industrie (BCMI) and Credit de Maroc (CDM).

Banking hours are generally weekdays 8.15am to 3.45pm. They are reduced to 9am to 2pm in Ramadan and at hotter times of year (usually 15th June - 15th Sept ).

Where to get Moroccan Dirham

Euros (and to a lesser extent the US Dollars and British Pounds) are widely accepted in major hotels in Morocco, but otherwise Dirham are necessary.

ATMs are the fastest and easiest way to obtain currency - they accept most major card types.

They can be found at many banks, give good rates of exchange and will typically allow up to 2,000 Dirham per day (about £165 or 180 €). Sometimes ATMs run out of cash. You are advised to inform your card provider of your travel plans.

Bureaux de Change can be found in most banks, larger hotels and at the airports and ports. They accept many currencies, including the Euro, US Dollar and British Pound and travellers are required to show their passports. BMCE and Credit du Maroc offer cash advances on Visa and Mastercard, but may take up to an hour to complete.

Credit cards are widely accepted in the major destinations, but the extent of their acceptance and the types accepted varies. You are advised to inform your card provider of your travel plans.

Money changers are best avoided if you are approached in the street with tempting preferential rates.