Morocco Money and Currency: Complete Financial Guide

Moroccan Dirham (MAD)

Currency Basics

Official Currency: Moroccan Dirham (MAD or DH) Symbol: د.م. (Arabic), DH or Dhs ISO Code: MAD Subunit: 1 Dirham = 100 centimes (santimat)

Currency Restrictions:

• Import/export limit: 2,000 MAD
• Partially convertible currency (controlled)
• Cannot be purchased outside Morocco
• Must exchange foreign currency in Morocco

Denominations

Coins:

• 1, 2, 5, 10 dirhams
• 10, 20, 50 centimes (rarely used)

Banknotes:

• 20 MAD (blue)
• 50 MAD (green)
• 100 MAD (brown/red)
• 200 MAD (purple/blue)

Notes:

• 500 MAD notes being phased out (anti-corruption measure)
• Small bills (20, 50 MAD) essential for taxis, tips, small purchases
• Break large bills at supermarkets, not in souks

Exchange Rates (February 2026)

Current Approximate Rates

Major Currencies:

• 1 USD = 10.2 MAD
• 1 EUR = 11.1 MAD
• 1 GBP = 12.8 MAD
• 1 CAD = 7.4 MAD
• 1 AUD = 6.6 MAD
• 100 JPY = 6.9 MAD
• 1 CHF = 11.5 MAD

Note: Exchange rates fluctuate. Check XE.com or OANDA for current rates.

Historical Context

The Dirham has been relatively stable against major currencies:

• Pegged to basket of currencies (60% Euro, 40% USD)
• Central Bank maintains controlled float
• Low inflation (1-3% annually)
• Gradual liberalization ongoing

Where to Exchange Money

Banks (Best Rates, Most Reliable)

Advantages:

• Official exchange rates (usually best)
• Secure transactions
• Official receipts (keep for reconversion)
• Professional service

Disadvantages:

• Limited hours (8:30 AM - 4:30 PM, closed weekends)
• Long queues
• May require passport
• Not in all tourist areas

Major Banks:

1. Attijariwafa Bank - Largest, most branches
2. Banque Populaire - Good coverage
3. BMCE Bank - Tourist-friendly
4. Société Générale Maroc - Reliable
5. Crédit du Maroc - Good service

Average Commission: 1-2%

Exchange Offices (Bureaux de Change)

Advantages:

• Longer hours (8 AM - 8 PM, some open weekends)
• No queues usually
• Tourist areas and airports
• Quick service

Disadvantages:

• Slightly worse rates than banks
• Higher commissions (2-4%)
• Airport exchange offices worst rates

Best Locations:

• Major hotels
• Medina entrances in tourist cities
• Downtown areas
• Train stations

Tips:

• Compare rates before exchanging
• Negotiate commission on large amounts
• Count money before leaving counter
• Get receipt

Hotels

Advantages:

• Convenient
• Open 24/7
• Safe

Disadvantages:

• Worst exchange rates (5-10% worse than banks)
• High commissions
• Only for emergencies

Recommendation: Use only for small amounts when banks closed.

Airports

Mohammed V Airport (Casablanca):

• Exchange offices in arrivals and departures
• Open for all flight times
• Rates 3-5% worse than city banks
• Good for initial cash (taxi, first meal)

Other Airports:

• Marrakech, Agadir, Fes have exchange offices
• Similar rates to Casablanca
• Limited hours at smaller airports

Strategy: Exchange $50-100 at airport, rest in city.

Black Market

Warning: Illegal and risky

• Exists in tourist areas
• Slightly better rate (1-2% max)
• Risks: counterfeit notes, scams, legal trouble
• Penalties: Fines, imprisonment
• Not recommended under any circumstances

Reconversion (Exchanging Back)

When leaving Morocco:

• Keep exchange receipts
• Can reconvert up to 50% of exchanged amount
• Do at bank or airport exchange office
• Better to spend dirhams before leaving
• Save small bills for airport purchases

ATMs (Cash Machines)

Availability

Excellent Coverage:

• All cities have multiple ATMs
• Most towns have at least one
• Tourist areas well-served
• Rural areas may lack ATMs

Major Networks:

• Attijariwafa Bank (red ATMs)
• Banque Populaire (blue ATMs)
• BMCE Bank (green/white ATMs)
• Société Générale (red/black ATMs)

Finding ATMs:

• Look for "GAB" sign (Guichet Automatique de Banque)
• Banks always have attached ATMs
• Shopping centers and malls
• Major intersections in cities

Using ATMs

Compatible Cards:

• Visa (most widely accepted)
• Mastercard (widely accepted)
• Maestro (limited)
• Cirrus (limited)
• American Express (very limited)

Withdrawal Limits:

• Per transaction: 2,000-5,000 MAD (depending on bank)
• Daily limit: Usually 10,000 MAD
• Your home bank may have lower limits

Fees:

Moroccan Bank Charges:

• Usually none or 10-20 MAD per withdrawal
• Some banks charge 15-30 MAD

Foreign Bank Charges:

• ATM fee: $3-5 per withdrawal
• Foreign transaction fee: 1-3%
• Currency conversion fee: 0-3%
• Total cost: 5-8% typically

Tips to Minimize Fees:

• Use banks with no foreign transaction fees (Charles Schwab, Revolut, etc.)
• Withdraw larger amounts less frequently
• Check if your bank reimburses ATM fees
• Use ATMs inside bank branches (more secure)

Best Times to Use:

• During bank hours (problem resolution easier)
• Daylight hours (safety)
• Avoid late night withdrawals

Security Tips:

• Use ATMs inside banks when possible
• Cover keypad when entering PIN
• Be aware of surroundings
• Don't accept "help" from strangers
• Check for card skimmers
• Take receipt
• Count money before leaving ATM

Common ATM Issues

Card Rejected:

• Check if card enabled for international use
• Verify PIN is correct (only numbers, no letters)
• Chip card works better than magnetic stripe
• Try different bank's ATM

Card Retained:

• Don't panic
• Note ATM location and bank
• Contact bank during business hours
• Bring passport to retrieve card
• Usually released same day or next business day

Wrong Amount Dispensed:

• Count immediately
• Go into bank branch if during hours
• Keep receipt as proof
• Report to your bank

Credit and Debit Cards

Acceptance

Where Cards Accepted:

• High-end hotels and riads
• Upscale restaurants
• Chain stores and malls
• Car rental agencies
• Tourist attractions (some)
• Tour agencies (larger ones)
• Railway stations (ONCF)
• Airlines

Where Cards NOT Accepted:

• Souks and markets
• Street vendors
• Taxis (cash only)
• Budget accommodation
• Local restaurants
• Small shops
• Riads (some)
• Guides
• Tips

Acceptance by Card:

• Visa: 80% acceptance where cards work
• Mastercard: 75% acceptance
• American Express: 30% acceptance (high fees for merchants)
• Discover: Rarely accepted

Card Fees

Typical Charges:

• Foreign transaction fee: 1-3%
• Currency conversion fee: 1-3%
• Total: 2-6% on all purchases

No-Fee Cards (International):

• Charles Schwab Debit
• Revolut
• N26
• Wise (TransferWise)
• Capital One cards

Card Security

Precautions:

• Notify bank before travel
• Set travel notification
• Keep card in sight during transactions
• Check receipts carefully
• Avoid giving card to staff (go to terminal)
• Use chip and PIN (not swipe)
• Save bank contact numbers

If Card Compromised:

• Report immediately to bank
• Police report if stolen
• Block card via app/phone
• Bring backup cards

Cash vs Cards Strategy

Recommended Approach

Bring Cards:

• 2-3 debit/credit cards (different banks)
• Keep in separate locations
• One no-fee card minimum

Bring Cash:

• USD or EUR in clean, new bills
• $200-500 for emergencies
• Hide in hotel safe
• Exchange gradually as needed

Daily Cash Needs:

• Budget traveler: 300-500 MAD
• Mid-range: 800-1,200 MAD
• Luxury: 1,500-2,500 MAD (plus card)

When to Use Cash

Always Cash:

• Souks and markets
• Taxis and local transport
• Street food
• Tips
• Small purchases
• Budget accommodation
• Riads without card machines

When to Use Cards

Better for:

• Large hotel bills
• Car rentals
• Organized tours
• Restaurants (upscale)
• Shopping (boutiques)
• Emergency backup

Tipping Guide

General Tipping Culture

Morocco has a strong tipping culture. Service staff often earn low base wages and rely on tips.

General Rule: Tip 5-10% for good service

Detailed Tipping by Service

Restaurants:

• Budget/local: 5-10 MAD (round up bill)
• Mid-range: 10-15% of bill
• Upscale: 15-20% (check if service included)
• Coffee/tea only: 2-5 MAD
• If service charge included: Still leave 5-10 MAD

Cafés:

• Coffee/tea: 2-5 MAD
• Snack: 5 MAD
• Meal: 10-20 MAD

Hotels:

• Porter: 10-20 MAD per bag
• Housekeeping: 20-30 MAD per day
• Concierge: 50-100 MAD (for special help)
• Room service: 20 MAD
• Valet parking: 20 MAD

Riads:

• Staff: 50-100 MAD per day (pool for all staff)
• Chef: 100 MAD (if exceptional meal)
• Manager: Not expected

Guides:

• City guide (half day): 50-100 MAD
• City guide (full day): 100-200 MAD
• Trekking guide (per day): 150-300 MAD
• Driver-guide (per day): 200-400 MAD
• Poor service: 50 MAD minimum (still tip something)

Drivers:

• Taxi (metered): Round up or 5 MAD
• Taxi (negotiated): No tip expected
• Private driver (day trip): 100-200 MAD
• Multi-day driver: 200-300 MAD per day
• Group driver: Coordinate group tip

Hamam (Bathhouse):

• Attendant: 20-50 MAD
• Massage therapist: 50-100 MAD
• Bucket person: 10-20 MAD

Salon Services:

• Hairdresser: 10-20% of bill
• Manicure: 20-30 MAD
• Hammam package: 50-100 MAD

Other Services:

• Parking attendant: 5 MAD
• Gas station attendant: 5 MAD
• Bathroom attendant: 2-5 MAD
• Shoe shine: 10 MAD
• Cart pusher: 10 MAD
• Musicians at restaurant: 20-50 MAD
• Snake charmers/entertainers: 10-20 MAD (if you photograph)

What NOT to Tip:

• Government museum guides (paid employees)
• Shop owners (bargaining instead)
• Pharmacists
• Government officials

Tipping Etiquette

How to Tip:

• Cash only (never add to credit card)
• Small bills essential
• Hand directly to person
• Discreet, not showy
• Say "Shukran" (thank you)

When Not to Tip:

• Poor service (still 50% of normal)
• Scam attempts
• Aggressive begging
• Unofficial "helpers" you didn't ask for

Bargaining Guide

Where to Bargain

Always Bargain:

• Souks
• Market stalls
• Street vendors
• Carpet shops
• Some riads
• Unmetered taxis
• Private tours/drivers

Never Bargain:

• Supermarkets
• Restaurants (fixed prices)
• Hotels (booked rates)
• Museums
• Transportation (buses, trains)
• Pharmacies

Bargaining Techniques

Starting Prices:

• Vendor starts: 200-300% of target price
• For tourists: Often 300-500% markup
• Your opening: 40-50% of asking price

Example:

• Vendor asks: 1000 MAD
• You offer: 400 MAD
• Negotiate: 600-700 MAD (final price)

Strategies:

1. Know the value - Research prices first
2. Walk away - Powerful technique
3. Stay friendly - Smile and joke
4. Take your time - Rushed = higher price
5. Bundle items - Better deal on multiple purchases
6. Pay cash - Avoid "credit card fee"
7. Shop late - End of day = better deals
8. Compare shops - Check 3-4 places
9. Don't show excitement - Stay neutral
10. Final walk away - Often gets best price

Phrases:

• "Bzef!" (Too much!)
• "La, shukran" (No, thanks)
• "B'saha?" (Really?)
• "Andi [number] MAD" (I have [X] dirhams)

Red Flags:

• "Government prices" (not real)
• "Special today only" (always on sale)
• "My brother's shop" (commission scheme)
• "I like you, special price" (standard line)

Fair Prices

How Much to Bargain Down:

• Tourist items: 40-60% off asking
• Quality crafts: 20-40% off asking
• Everyday items: 10-20% off asking

Know When to Stop:

• Vendor gets angry (you went too low)
• You're happy with price
• Price is fair for quality
• Time spent exceeds savings

Cost of Living

Daily Expenses by Travel Style

Budget Traveler ($30-50/day):

• Hostel: $10-15
• Food: $10-15
• Transport: $5-10
• Activities: $5-10
• Total: 300-500 MAD/day

Mid-Range ($80-150/day):

• Mid-range hotel/riad: $40-60
• Food: $25-40
• Transport: $10-20
• Activities: $15-30
• Total: 800-1,500 MAD/day

Luxury ($300+/day):

• Luxury riad/hotel: $150-300
• Fine dining: $80-100
• Private driver: $50-80
• Premium activities: $50-100
• Total: 3,000-6,000 MAD/day

Specific Price Examples

Food:

• Street food sandwich: 10-20 MAD
• Local café breakfast: 20-30 MAD
• Tagine at local restaurant: 40-70 MAD
• Mid-range restaurant meal: 100-150 MAD
• Fine dining: 300-500 MAD
• Coffee: 10-15 MAD
• Fresh juice: 10-15 MAD
• Pastry: 5-10 MAD
• Bottle of water: 5-8 MAD
• Beer (bar): 30-50 MAD
• Wine (restaurant): 150-400 MAD bottle

Accommodation:

• Hostel dorm: 80-150 MAD
• Budget hotel: 200-350 MAD
• Mid-range riad: 400-800 MAD
• Upscale riad: 1,000-2,000 MAD
• Luxury hotel: 2,500-6,000 MAD

Transport:

• Local bus: 4-7 MAD
• CTM bus (intercity): 80-200 MAD
• Train (2nd class): 50-200 MAD
• Train (1st class): 80-300 MAD
• Petit taxi (short): 20-40 MAD
• Grand taxi (per seat): 30-80 MAD
• Private driver (day): 800-1,500 MAD

Activities:

• Museum entry: 20-70 MAD
• Hamam: 100-300 MAD
• Cooking class: 400-600 MAD
• Desert tour (3 days): 1,500-3,000 MAD
• Hot air balloon: 2,500-3,500 MAD

Shopping:

• Argan oil (genuine): 80-150 MAD
• Spices (100g): 10-30 MAD
• Leather babouches: 100-250 MAD
• Small rug: 300-800 MAD
• Large carpet: 2,000-10,000+ MAD
• Tagine pot: 50-200 MAD
• Scarf: 50-150 MAD

Money-Saving Tips

Accommodation

• Book directly (avoid commission)
• Negotiate longer stays
• Stay in medinas (cheaper than new towns)
• Use homestays (authentic + affordable)

Food

• Eat where locals eat
• Market picnics
• Lunch is cheaper than dinner
• Set menus better value
• Share large dishes

Transport

• Use CTM/Supratours for reliability
• Train 2nd class comfortable
• Share grand taxis (per seat vs private)
• Walk medinas (free + best way)

Shopping

• Buy from cooperatives (fair prices)
• Shop at end of day
• Bundle purchases
• Buy where produced (cheaper)

Activities

• Free museum days (often Fridays)
• Wander medinas (free)
• Public beaches (free)
• Hiking (free)
• Photography (free)

Last Updated: February 2026 Exchange Rates: Check XE.com for current rates