What is the Moroccan Currency?
Morocco, located in the northwest corner of Africa, has its own official currency known as the Moroccan dirham (MAD). The Moroccan dirham is the legal tender and primary form of payment throughout the country. It is under the control of the Bank Al-Maghrib, which is the central bank of Morocco. Understanding the Moroccan currency is essential for anyone planning a trip to this beautiful North African country.
The Moroccan dirham has been the official currency of Morocco since 1882 when it replaced the rial currency introduced during the Arab rule of the region. The dirham is divided into 100 smaller units called centimes. Although centimes are still used in pricing goods, they are rarely used in everyday transactions.
1. How is the Moroccan dirham denoted?
The Moroccan dirham is denoted using the symbol “DH” or “د.م.” for Arabic script.
2. Can I exchange my currency to Moroccan dirham before traveling?
Yes, it is advisable to exchange your currency to Moroccan dirham before traveling to ensure you have local currency on hand. You can exchange your currency at banks, exchange offices, or even withdraw Moroccan dirham from ATMs in Morocco.
3. What are the common denominations of Moroccan dirham?
The most common denominations of Moroccan dirham notes are 20 DH, 50 DH, 100 DH, and 200 DH. Coins come in 1 DH, 5 DH, and 10 DH denominations, as well as smaller centime coins.
4. Can I use other currencies in Morocco?
While the Moroccan dirham is the official currency, some businesses may accept other major currencies like the US dollar or the euro in popular tourist areas. However, it is always recommended to have Moroccan dirham for smoother transactions.
5. Can I use credit cards in Morocco?
Yes, credit cards are widely accepted in hotels, large restaurants, and some shops in major cities. However, it is always advisable to carry some cash for smaller vendors or establishments that may not accept cards.
6. Can I exchange the remaining Moroccan dirham back to my currency?
Yes, you can exchange your remaining Moroccan dirham back to your currency at Moroccan banks or authorized exchange offices. Keep in mind that you will need to present your original exchange receipts.
7. Are there restrictions on the amount of currency I can bring in or take out of Morocco?
There are no specific restrictions on the amount of currency you can bring into or take out of Morocco. However, if you are carrying a large sum of money, it is advisable to declare it at customs upon arrival or departure.
8. Are there ATMs available in Morocco?
Yes, ATMs are widely available in major cities and tourist areas in Morocco. It is recommended to use ATMs located in reputable places like banks or shopping centers to ensure safety.
9. Can I use traveler’s checks in Morocco?
While traveler’s checks were once a popular form of payment, they are less commonly used in Morocco now. It is advisable to use cash or credit cards for transactions.
10. Can I exchange currency at the airport?
Yes, there are exchange offices at Moroccan airports where you can change your currency to Moroccan dirham. However, rates may not be as favorable as in city exchange offices.
11. Should I tip in Moroccan dirham?
Tipping in Morocco is customary, and it is generally done in Moroccan dirham. However, tipping in major currencies like the US dollar or euro is accepted in tourist areas.
12. Is it better to exchange money at a bank or an exchange office?
Both banks and exchange offices offer currency exchange services in Morocco. Generally, exchange offices offer slightly better rates, but banks are known for their reliability and security.