Currency in Morocco, withdrawing Money

Introduction about the currency in Morocco:

Morocco, the one that means beautiful orient, fresh mint tea, colorful bustling markets, interesting smells, delicious Moroccan food. Even more, dromedaries, green oases, and the vast Sahara desert. Morocco might be only a few hours by flight from your country. But, you will get off the plane and enter a completely different world. Not for nothing, Morocco is called “the gateway to Africa”. So that you do not have to worry about finances and your credit card. We have summarized all the important information about the currency in Morocco. Also, tips for withdrawing money and payments. Have fun browsing!

Morocco’s currency:

The official currency in Morocco is the Moroccan Dirham, abbreviated as MAD. A Dirham consists of 100 Centimes. Further, During your trip, you will receive and use both bills and coins. Coins are available in 10, 20, 50 centimes and 1, 2, 5, 10 dirhams. However, as a traveler, you will have little to do with the small 10 and 20 centimes.

Banknotes have a value of 20, 25, 50, 100, and 200 Dirham. At the current exchange rate (as of 02/2020) you can get just under 11 MAD for one Euro. So even if you withdraw 200 Dirham from the machine, you have just 18 € in your pocket. So your wallet is always “fuller” than it actually is at the end.

Withdrawing money in Morocco:

In Morocco, you can withdraw money from cash machines like anywhere else abroad. They are equipped with an ATM sign. After you have inserted your card, it is best to select “English” as the language first. Then go to “Withdrawal” and withdraw the desired amount.

VISA or MasterCard credit cards are the most reliable cards for withdrawing money anywhere in Morocco. I also recommend you to withdraw money in banks and not at the next ATM out on the street. The machines in the banks are usually guarded and are also serviced more often.

Withdrawal fees:

We recommend that you always use the full withdrawal limit when withdrawing at an ATM. This is in Morocco at most ATMs about 2000 Dirham (190 €). The problem is that when withdrawing money with the card usually 5 to 10 € fees are charged by your house bank. So if you often withdraw money, you often pay fees.

If you want to withdraw money with your credit card at an ATM, you will usually be charged 1.5 to 3% of your withdrawn amount as an international fee. It is best to call your bank in advance and inquire about these issues. It is also possible that the operator of the ATM or the merchant will charge a fee when withdrawing cash.

Change money on site:

If you plan to exchange your Euro into Dirham, you must not do this in your country, because officially the import of the national currency into Morocco is prohibited. But don’t worry, you still have the possibility to change your money locally.

If you like, you can do this immediately after your arrival at the airport in one of the exchange offices or you wait until you are in one of the bigger cities like Agadir or Marrakech. There, you can exchange your money in the exchange offices at much better rates than at the airport.

Even if the interchangeable tubes may not make the best impression from the outside, they usually work very seriously. You can also exchange your money at normal banks in Morocco, but they usually offer a worse rate and the opening hours are shorter than those of the exchange offices.

Bigger hotels often offer you the possibility to exchange the most common currencies like Euro and US$. No matter where you exchange your money, keep in mind that you can only exchange 50% of the amount you exchanged.

Note! If you want to exchange a large amount of cash, you should compare the exchange rates offered by the different providers on site. You must also always show your valid passport when changing money.

Payment with credit card:

Cashless payment with VISA, MasterCard with the Maestro logo is possible in Morocco, but not yet widespread. Above all, you will be able to pay with the card in hotels, at the airport, and in larger restaurants and stores. Again, you should not forget the fees. Since you are outside your borders, your card payments will be charged with your international assignment fee. Most banks charge between 1% and 3% of the total amount.

On your journey through the Orient, you will certainly also be drawn to the colorful famous markets and bazaars for shopping. Before that, you should have enough cash in the local currency Dirham, because paying by card is not possible in most cases. A small tip for the markets: Don’t forget to bargain before you pay! This is part of the culture and is usually also fun.

Prices in Morocco:

For many travelers, Morocco is considered as quite favorable travel country. Particularly inexpensive are the flights from most of the countries with Ryanair and other airlines. As well as the accommodations. Even a room in a very beautiful Riad does not cost much. But how much money should you plan for your Morocco vacation. Here, we have picked out a few prices for you:

  • Double room in a riad from 10 €
  • bottle of water from 0,60 €
  • 1 beer (local) from 0,90 €
  • 1 glass of mint tea from 0,70 €
  • Food on the market: 1 – 2 €
  • Restaurant visit from 5 – 10 €
  • Gasoline 1 liter approx. 1.10 €
  • Car rental from 15 € per day

Conclusion on this topic (currency in Morocco)

As you have now experienced, there are hardly any special features to consider for Morocco. You can withdraw money with your credit card at cash machines at the airport or in the cities. If you want to change your money, wait until you are in Morocco to avoid committing a crime.

For a visit to the markets and small restaurants, you should always have enough cash with you. So…and now look forward to all the new impressions, the oriental feeling, and delicious mint tea! the country of colors and smells.

Planning a trip to Morocco? book with Touring In Morocco!

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