Want to know more about the currency in Morocco? They use the Moroccan Dirham (MAD), and here’s more info about ATMs, money, and exchange rates before your trip.
I will also answer some of the most frequently asked questions about money and currency in Morocco.
Quick facts about Moroccan Dirham (MAD)
- Name: Morocccan Dirham.
- Year of introduction: 1897.
- Coins: 1, 2, 5 and 10 MAD.
- Banknotes: 10, 20, 50, 100, 200 Moroccan Dirham
- Subunit: 5, 10, 20, 50 centimes / santimat (cents)
- Abbreviation: DM
- Currency Code: MAD
Can you pay by card in Morocco?
Luxury- and mid-range hotels, as well as high-end restaurants, usually accept debit- and credit cards. But it’s most common to pay in cash.
Are Euros accepted in Morocco?
Euros are accepted in most tourist areas, but you’ll often get a poor exchange rate. It’s much better to pay in Moroccan Dirham.
Should you exchange money before your trip?
There is a limit of 2000 Dirhams that can be taken to Morocco and the currency is not traded outside the country. However, some exchange offices will still sell Dirhams, although the rate given is usually not the best.
It’s better to wait until you arrive in Morocco, and there you can get a better exchange rate, or even better take out cash from a local ATM with a travel card, without international fees.
Exchange Currency in Morocco
You can easily exchange currency in Morocco, for example, UK Pounds to Dirham, Euros to Dirham, US Dollars to MAD. This can be done in banks and exchange bureaus.
If you exchange money, remember to keep all receipts because that shows that you exchanged them legally. Canadian Dollars, Australian Dollars, and New Zealand dollars are rarely accepted, so don’t bring those.
There is also a black market where some might approach you in the street to offer currency exchange. Just say no to this because there is no reason for it, and you’re likely getting scammed if accepting their offer.
With that said, it’s better to take out cash from a local ATM and avoid expensive currency exchange fees.
Photo: Janusz Pienkowsk/Shutterstock
Useful tips about Money in Morocco
Always carry cash, especially if you travel outside the cities because Morocco is mostly a cash-based society, and most places won’t accept card payments.
Keep your change and break big banknotes like 100 and 200 Dirhams when possible because a lot of places won’t have enough change for you. It’s useful to have many notes of 20 MAD as well as smaller denominations.
Tipping is expected and ranges from 5-10 dirhams usually depending on the service offered. It’s not mandatory but it will make your trip more pleasant.
Photo: FREEDOMPIC/Shutterstock
ATMs in Morocco
Moroccan ATMs are usually available 24/7 and they can be found in all major cities and smaller towns. The ATMs in Morocco accept all major international debit- and credit cards.
It’s easy to use the Moroccan ATMs and when you insert a foreign card, the info will be displayed automatically in English. Always choose to be charged in the local currency without conversion.
Some ATMs in Morocco will charge a local fee of 20 MAD in addition to the ATM fee from your own bank, usually €5 + 1-3% foreign transaction fee. The withdrawal limit is usually 2000 Dirhams per transaction for a maximum of 3 times per day.
This can easily be avoided by using a travel card without fees for ATM withdrawals and currency exchange. If you’re a resident in Europe, I recommend getting the free card from Revolut, which comes without fees.
Photo: Zakariaa El Mikdam / Shutterstock.com
List of Moroccan banks
You can exchange Moroccan Currency in the following banks, or use their ATMs.
- Attijariwafa Bank
- Banque Populaire du Maroc
- Société Générale Maroc
- BMCE Bank
- BMCI
More about Morocco’s currency (MAD)
Moroccan Dirham has been the currency in Morocco since its introduction in 1960 when it replaced the former Moroccan Franc. The Moroccan currency is given out by the country’s central bank Bank Al-Maghrib (BKAM), which has its headquarters in Rabat.
The currency code is MAD, and 100 MAD is worth about 9 Euro. It’s more or less stable to the major currencies such as Euro, Pounds and US dollars with little fluctuations.
Moroccan Dirham in various denominations
- Coins: 1, 2, 5 and 10 MAD.
- Banknotes: 10, 20, 50, 100, 200 Dirham
- Subunit: 5, 10, 20, 50 centimes / santimat (cents)
Frequently Asked Questions about Money in Morocco
Are US dollars accepted in Morocco?
Yes, many hotels and shop owners will accept US dollars in Morocco. But you’ll get a poor exchange rate, and it’s much better to pay in the local Moroccan currency.
What is the best currency to take to Morocco?
Euros and US dollars are the best currencies to take to Morocco if you want to exchange money. But it’s recommended to bring a travel card instead with zero fees, and instead take out cash from a local ATM.
What is the currency in Marrakech?
The currency in Marrakech is Moroccan Dirham (MAD). But Euros and US dollars are usually accepted as well, although the rate often is terrible.
Can I get Moroccan money in the UK?
Yes, but you’re only allowed to bring in 2000 Dirhams per recommendation from the UK government, so it’s much better to get Moroccan money when you arrive instead from a local ATM.
How many dirhams can I take to Morocco?
The current limit is set to 2000 Dirham that you can take to Morocco. There is no limit for foreign currencies, but amounts equivalent of 100,000 MAD must be declared upon arrival.
Is the Moroccan Dirham a closed currency?
Yes, the Moroccan currency is considered closed because it can only be traded within the country. However, you can still purchase some Moroccan Dirhams in many countries.
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