Official Currency
The official currency of Morocco is the Moroccan dirham, abbreviated as MAD. The symbol for the dirham is DH.
Banknotes and Coins
- Banknotes: Available denominations include 20, 50, 100, and 200 DH.
- Coins: Commonly used coins are 0.50, 1, 2, 5, and 10 DH, along with smaller denominations of 1, 5, 10, and 20 centimes.
Payment Methods
In Morocco, you can make payments using cash or credit cards. When paying by credit card, the exchange rate applied will be the current rate, and commissions typically depend on the issuing institution, generally around 1%.
Currency Exchange
For establishments that do not accept credit cards, it is advisable to pay in dirhams. The best places to exchange your currency include:
– Exchange Offices: Located in tourist areas of major cities, these offer competitive rates and are convenient for travelers.
– Airports and Hotels: Currency exchange services are also available at airports and in many hotels, though rates might be less favorable compared to dedicated exchange offices.
Exchange Rates
To check the real-time value of exchange rates, you can use reliable online resources or financial apps that provide up-to-date information.
Tips for Currency Exchange and Payments
– Always carry some cash: While credit cards are widely accepted, having cash on hand is useful for smaller establishments and local markets.
– Use official exchange services: Stick to official exchange offices, airports, and hotels to avoid potential scams or unfavorable rates.
– Notify your bank: Inform your bank about your travel plans to prevent any issues with using your credit card abroad.
– Check for fees: Be aware of any foreign transaction fees or commissions that may apply when using your credit card in Morocco.
By understanding the local currency and payment methods, you can ensure a smooth and hassle-free financial experience during your stay in Morocco.
