Key Takeaways
Managing your money in Morocco is very simple once you know the basics. The country uses the Moroccan dirham (MAD). Although credit card payment terminals are becoming more common (hotels, supermarkets, large brands), Morocco remains a society primarily focused on cash payments.
Table of Contents
1. The Moroccan Dirham (MAD)
The official currency of the entire kingdom is the Moroccan dirham (usually referred to as MAD or DH). It is a restricted currency, meaning it theoretically cannot be imported or exported outside the borders. Therefore, you will need to exchange your money after you arrive.
Indicative exchange rates (for informational purposes)
- 1 Euro (EUR) is roughly equivalent to 10.8 DH
- 1 Dollar (USD) is roughly equivalent to 10.0 DH
- 1 Pound (GBP) is roughly equivalent to 12.5 DH
Exchange Tip:
Always check the real daily exchange rate on an online converter before making a substantial exchange at a counter to make sure you are getting the best price.
2. ATMs (Cash Machines)
Cash machines, or ATMs, are omnipresent. You will find them starting right at Casablanca airport, then in main cities, medinas, and large boulevards. Withdrawing cash is often the most interesting solution with an international bank card that offers a no-fee option abroad.
Main bank networks in Morocco:
- Attijariwafa Bank: The most widespread bank with reliable equipment.
- BMCE Bank (Bank of Africa): Excellent national coverage.
- Banque Populaire: Many ATMs spread throughout the territory.
- CIH Bank: Often lower local bank fees charged during foreign withdrawals.
| ATM Withdrawal Tips | Good to Note |
|---|---|
| Refusing dynamic conversion | Always let the ATM charge in local DH |
| Safe location | Favor ATMs integrated into bank facades |
| Standard limits | From 2,000 to 4,000 DH withdrawable per transaction |
3. Using Credit Cards
The acceptance of Visa and Mastercard is quite widespread today in high-traffic areas (hotel zones and gas stations). Nevertheless, for purchases in small local shops in the medinas, cash remains vital.
Places to Pay by Card
- Starred hotels and riads of a certain range
- Supermarkets (Carrefour, Marjane, Aswak Assalam)
- Structured tourist restaurants
- International car rental agencies
- Gas stations (still, check before filling up)
Where Cash is Imperative
- Souks, markets, and small street vendors
- Small city taxis (dirhams are always mandatory)
- Local hostels and small dining (street-food)
- Small tips for minor services
4. Exchange Offices and Mobile Payment
If you brought euros or dollars in cash, you will find exchange offices inside the airport, near terminal exits, and abundantly in the city center.
Generally, it is best to only exchange a modest amount (to secure your first taxi or meal) and perform your currency conversion at city agencies, where competition fosters transparent rates adjusted to the international market. Keep your receipts safe: they may be required back at the airport to convert leftover dirhams.
Mobile Payment, How Useful for a Traveler?
Dematerialized Moroccan payment solutions are emerging for the general public (M-Wallet). However, these platforms primarily target Moroccan citizens holding a local bank account and a national phone number. As a visitor for one to a few weeks, local mobile banking will not be of great practicality, hence the winning combination: international cards + sufficiently stocked cash wallets for the quintessential Moroccan experience.
5. Budget Planning: Some Benchmarks
The cost of living in Morocco is overall a half to a third lower than the Western European cost. Here is an idea to structure your wallet per day per traveler. A mid-range budget allows you to enjoy a relaxed stay with various restaurants.
| Budget Type | In Dirhams per Day | Details (accommodation included) |
|---|---|---|
| Budget (Backpacker) | 300 - 500 DH | Youth hostel, authentic street food, soft and local transport methods (bus, ONCF train). |
| Mid-range (Classic comfort) | 800 - 1,200 DH | Double room in a mid-range hotel / riad, comfortable seated meals with neat table service. |
| Superior and Luxury | From 1,500 DH | Private excursions, hotels and riads with spas and pools, and fine dining or renowned chef tables. |
6. Frequently Asked Questions
What is the official currency of Morocco?
The official currency is the Moroccan dirham (MAD or DH). It is a closed currency, which means it theoretically cannot be exchanged outside of Moroccan territory.
Can you pay in euros in Morocco?
Some hotels, tourist agencies, or grand taxis may accept euros, but the exchange rate applied will generally not be to your advantage. It is highly recommended to always pay in dirhams.
Are there ATMs at Casablanca Airport?
Yes, many ATMs from the main Moroccan banks (Attijariwafa Bank, Banque Populaire, BMCE, CIH) are available in the arrivals hall of Mohammed V Airport. You can withdraw dirhams there as soon as you step off the plane with your international card.
Where is it best to exchange currency?
City center exchange offices often offer better rates than those at the airport or hotels. At the airport, you can exchange a small amount to pay for your first means of transport (taxi or train) and do the rest of your exchange later in the city.