What are the best currency exchange tips in Morocco ?
The Moroccan currency is the dirham (Dh). It s currency code is MAD.
This currency is not convertible: you are supposed to leave Morocco without dirham in your pocket (you can change your dirhams at the airport if you have preserved carefully the exchange receipt or card withdrawal ticket).
In some hotels, and when shopping in big medina such as Marrakech, it is often possible to pay in US dollars and euros. However the exchange rate might not be in your favor.
Currency Exchange in Morocco
In the main cities, there are currency exchange offices everywhere. Banks also exchange money, but their schedule are more limited. Each bank can set its own rate but it doesn’t vary much from one place to another.
There is no difficulty to exchange currencies, except in very remote places. You may still be asked to show your passport.
Ask for a receipt and verify the amount. Exchanging its euros to dirhams or dollars to dirhams remains the best option compared to the withdrawal of cash or the payment by credit card because, in this case, is added a commission levied by the bank.
Banknotes must be in good condition for exchange, otherwise they may be refused.
Credit cards in Morocco
They are accepted by most hotels of a high standing, as well as in certain restaurants, shops and gas stations.
Moroccan banks' commissions are high for merchants, hoteliers and restaurateurs, the costs are passed on to the bill.
The most widely accepted card is the Visa card.
There are many in the country and they allow to withdraw dirhams with a Visa or MasterCard.
It is better to withdraw money from an ATM attached to a bank branch during the opening hours of the bank. If an issue occurs with the ATM, an employee can help you solve the problem and get your card back.
For each withdrawal, a commission of around 2-3% + 3.50 to 6 $, will be debited from your bank account. It is better to avoid withdrawing small amounts.
It is also advisable for those who go to the south of Tafraoute or Ouarzazate to fill up in cash or to have dollars to exchange, because ATM are scarce in the south of the country.