Currency and Banking

Currency and Banking

The currency of Morocco is the Dirham (Dh, or MAD in on-line currency converters), and is subdivided into 100 centimes.

The Dirham is a restricted currency and is not generally available outside of the country. It is normally purchased in Morocco at the bureaux de change in international airports’ arrival halls, in main banks in major centres, in the ferry terminal in Tangier and at some large hotels. If you don’t have currency on arrival the Euro (and to a lesser extent the British Pound) are also widely accepted. Recently Thomas Cook have been offering MAD for sale in the UK, but exchange rates are often poor.

The currency is issued in banknotes of 20, 50, 100 and 200 Dirham, and coins of 1, 5,and 10 Dirham and coins of 5, 10, 20 and 50 centimes. We suggest you keep aside low value Dirham notes and coins, since they are useful for tipping.

Current Exchange Rate The Dirham exchange rate is set by the Moroccan Government and varies hourly, although it often appears to track the Euro. The rate offered in Morocco varies a little from rate.

To see the current interbank spot exchange rate click here, the tourist purchase rate will be less than this.

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). In general they have agreements with leading international banks including Societe General and Citibank ABN.

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

ATMs are the fastest and easiest way to obtain currency - they accept most major card types, can be found at many main banks, give good rates of exchange and will typically allow up to 2,000 Dirham per day (about £165 or 180 €). You are advised to inform your card provider of your travel plans. Sometimes ATMs run out of cash and in this case Bureau de change at BMCE is relatively efficient. BMCE and Credit du Maroc offer cash advances on Visa and Mastercard, but may take up to an hour to complete.

Bureaux de change can be found in most banks, larger hotels and at the airports. They accept many currencies, including the Euro, US Dollar and British Pound and travellers are required to show their passports.

Credit cards are widely accepted in the major destinations, but the extent of their acceptance and the types accepted varies and, therefore, cash is often needed. 

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