Money matters - Morocco
Currency and Money
Moroccan Dirham (MAD, Dhs) = 100 centimes
Notes are in denominations of Dhs 200, 100, 50, 20 and 10
Coins are in denominations of Dhs 10, 5, 2 and 1 and/or 50, 20, 10 and 5 centimes
There are several types of 10 and 5 Dirham coins that are in circulation
Officially the Dirham is a 'closed currency' this means it can only be traded inside the country
However, it is possible to purchase Dirhams at some international airports and/or money changers.
Importing and exporting the currency is tolerated by officials but there is a limit of 1000 Dhs that can be brought in. (that equals around $1,400 Aud)
Currency exchange receipts need to be kept as these have to be shown when changing back any left over money before leaving Morocco - ie you cannot change back more than you can prove you exchanged into Dirham, multiple receipts would be okay but they would need to be from transactions done within the country
Marrakesh airport has currency exchange facilities, and the rate is meant to be similar to in town
Exchanging currency in the street is illegal - so must look for an official Bureau de Change (will have a gold sign)
Dirham is not accepted on the ferry when we leave so excess funds will need to be got rid of or changed in Tangier the night before we leave.
If exchanging cash (paper money) Euro, British pounds or US Dollars are best. - so not Aussie dollars.
SUMMARY: Personally, I will wait til we arrive and get cash at the airport, probably just using the ATM, unless I have unspent Pounds after London.
Most major credit cards are accepted in larger restaurants, hotels, guest houses and the occasional shop in the souks
Credit card fraud scams are common
Cash can be withdrawn from ATMs in larger towns and most major hotels will have reliable ATMs if you cannot find one on the street. Best to go inside a bank where possible.
Mon-Fri 8.30-12.00 and 3-6.30pm
Current exchange rate:
AUD - 1 = Dh7.48
EUR - 1 = Dh10.79
GBP - 1 = Dh12.05
The Australian Government warns:
Try to avoid using ATMs on the street and be aware of your surroundings. Aggressive begging near ATMs is frequent and robberies have occurred.
Credit card fraud such as double billing and scams such as substituting inferior goods for those that were actually purchased are common. Keep your credit card in sight when conducting transactions.