When organizing the trip to Morocco is important to leave well resolved the issue of money exchange Marrecos to save a few euros and not have surprises on the trip. In this post we explain you what is the official currency in Morocco, when to use cash or card, where to change your euros at the best price or how you can have money in case of emergency.
Let’s get started!
1. DIRHAM, THE CURRENCY OF MOROCCO
With the currency code MAD, the dirham is the official currency of this African country. Here its denominations: in notes, 200dh, 100dh, 50dh and 20dh; while in coins, 10dh, 5dh, 1dh, 0.50dh, 0.20dh and 0.10dh.
2. HOW MUCH IS THE CHANGE FROM EUROS TO DIRHAMS?
The change in euros is as follows: As of September 2019, one euro is equivalent to 10.66 dirhams. So don’t worry, every time you see a price in dirhams, just divide it by 10 and you will get its cost in euros. For example: A sandwich at 50 dirhams, or 5 euros.
If on your trip you see any reference to prices in “francs” or “reales” – currencies that are no longer being used – be aware of this change: one dirham is equal to 10 francs, likewise, one dirham is two reales.
On the xe page you can see the price of the Dirham, keep in mind that this is a reference price and that the change they give you will always be more expensive.
- What can I buy with 10 dirhams (one euro)
2 sandwiches, 2 bottles of water (1,5l), 8 loaves of bread, 20 minutes of service in a collective taxi, half a pack of tobacco or 5 pastries.
3. WHERE CAN I CHANGE MY MONEY
ONLINE TRADING COMPANIES
There are options on the Internet to change your money and receive it at home as if it were the delivery of an object, these can be very beneficial because they ensure that you receive a good exchange rate before reaching your destination.
- Exact change: 900 103 740
- Global Exchange: 900 855 550
- Rextie: 963 896 793
- Ría Currency Exchange: 917 613 762
BANKS OF YOUR COUNTRY
It is an option but it is not the best, its exchange rate can not be convenient for you, although you can be sure that they will give you money in good condition and true.
AIRPORTS AND PORTS
If you come by plane or boat, you will find exchange offices in their respective terminals, such as the airports of Marrakech or Tangier, or at the departure of your ferry to Tangier. They don’t usually have a very good exchange rate but as you find them right at your departure or arrival, they offer you comfort and security. Try to change little money with this option.
BUREAU DE CHANGE
This option is better than the airport one, and how you are going to find it in different parts of cities like Marrakech or Tangier, you just have to look for the one with the best exchange rate offer.
4. WHAT IS THE BEST OPTION TO BUY DIRHAM COIN?
Definitely the online exchange agencies, their rate is lower than that of banks or airport exchange agencies, and you will not have to worry about receiving any counterfeit, damaged or simply not receiving the full change-how could you suffer with the alternative of exchanging money on the street.
Companies like Exact Change explain in a friendly and easy to operate web portal, how much to change, in what currency, how to pay and when you will receive your money, in this case in Dirham, whether you make the purchase from the comfort of your home or go to their authorized centers.
Buy Moroccan currency (Dirham)
You can buy your dirhams through this link and at the same time you are helping us to keep the travelistos project active 😉 Buy currency for Morocco
5. HOW CAN I HAVE MONEY IF I RUN OUT OF MOROCCAN CURRENCY
Although it is not very common to pay by card in Morocco, we recommend that you always carry a credit card so that you can pay or withdraw money in case something unexpected happens.
This is a way to dispose of your money, either debit or credit and are accepted by major establishments; such as: hotels, restaurants, department stores and gas stations. As mentioned above, in Morocco you may not find this alternative so easy to use.
It is a simple process that we advise you to do when the banks are open, this will allow you to ask for help in case the machine does not work properly. Please note that the cashier will charge you a fee, in addition to your bank’s fee for the money exchange. In other words, if you have 1,000 dirhams of your country bank credit card in a Moroccan ATM; you will be charged a fee by the Morocco bank for withdrawing money and another fee by your country bank for the currency exchange.
We leave you the numbers of assistance with which you can communicate in Morocco in case you have any inconvenience with your cards:
- Visa: 002-11-0011, wait for second tone and type 866-654-0163
- Mastercard: 001-636-722-7111
- American Express: 900-814-500
There are some travel cards that do not charge you a commission for exchange money for Morocco, and if you are charged a commission it is much lower than that of traditional banks. These options can be very favourable if for some reason you run out of cash in Morocco and need to have money immediately:
N26 THE FIRST MOBILE BANK
1.N26 free: you pay nothing for maintenance.
- Mastercard Debit Card
- Commission-free payments in any currency and country, without additional exchange rates
- Free withdrawals in euros
- 1.7% commission on foreign currency withdrawals
- Customer service in 5 languages via chat from 7:00 to 23:00, or chatbot (available 24/7)
- Up to 2 sub-accounts to save with Spaces
2.N26 You: you pay 9.9 euros per month including all the services of the free one and the following additional ones:
- Free withdrawals in foreign money worldwide (exchange rate for Morocco, no commission).
- Up to 10 sub-accounts to save with Spaces
- Share your sub-accounts (Spaces) with up to 10 N26 customers
- Special offers with WeWork, GetYourGuide and Hoteles.com among others.
- Insurance in: – medical emergency when travelling, flight and luggage delay; skiing and mountain accidents and mobility insurance: cars, scooters and bikes.
3.N26 Metal: you pay 16.90 euros per month including all the services of the N26 You and the following additional ones:
- Car rental insurance when you travel
- Mobile phone insurance for damage and theft
BNEXT: RECHARGEABLE PREPAID CARD
It’s not a bank. It’s a prepaid reloadable card that allows you to control all your accounts from its app. Very practical and easy to use.
- It’s totally free
- You can withdraw and pay money from anywhere in the world without any commission. Money exchange for Morocco, without commissions.
- You are not charged any additional percentage on the exchange rate.
Standard: you pay nothing for the card service.
- Free UK account
- Free Euro IBAN account
- Spend in more than 150 currencies at the interbank exchange rate
- Exchanges in 30 trust currencies up to € 6,000 per month with no hidden fees
- Automatic commission-free withdrawals of up to € 200 per month
- Free Revolut Card (except shipping)
- Instant access to 5 cryptosystems.
Premium: monthly payment of 7.99 € including all standard and subsequent additional services:
- Exchanges in 30 fiduciary currencies, with no monthly limit
- Automatic commission-free withdrawals of up to 400 € per month
- International Health Insurance
- Baggage delay and delayed flight insurance
- Worldwide Express Delivery
- Priority customer service
- Premium card with exclusive designs
- Disposable Virtual Cards
- Access with LoungeKey pass
- Free lounge access for you and a friend if your flight is delayed > one hour
Metal: monthly payment of 13.99 euros including all the premium services and the following additional ones:
- Automatic commission-free withdrawals of up to 600 € per month
- Exclusive Revolut Metal Card
- Free access to lounges for you and 3 friends if your flight is delayed for more than an hour
- 0.1% refund in Europe and 1% outside Europe on all card payments
- Access a concierge to help you manage your lifestyle
5. TIPS FOR YOUR MOROCCO MONEY EXCHANGE
AVOIDS CHANGING A LOT OF MONEY IN HIGH-RATE ESTABLISHMENTS
If you have just arrived and did not manage to change for the taxi -which may charge you cash-, change some of your euros into the local currency and get rid of this impediment. Please note that the higher the fare for the benefit of the seller, the higher the additional payment you will assume for changing.
DON’T TRUST YOURSELF, ALWAYS CARRY DIRHAMS
Especially if you take the tour of the city and feel like buying souvenirs, meals or other things. Keep in mind that not all establishments accept euros, and some do not even change the Moroccan currency.
ASK IF THEY CHARGE A FEE
Some exchange houses can give you a very favourable exchange rate, -remember that the best option is not the one that is equal to the official exchange rate but the one that is closer- but when you make the exchange, you realize that they charge you a separate commission. The best thing you can do is look for exchange houses with good rates and that do not charge you such a fee.
IF YOU’RE GOING TO MAKE AN ATM WITHDRAWAL, THAT’S ENOUGH
Keep in mind that you will be charged one to two commissions for each withdrawal, which is why it is more profitable to take out a good amount of money once.
DO NOT PAY IN EUROS
Some establishments will allow you to pay them in euros, because the influx of European tourists is high; but they will charge you more than the stipulated amount. If a souvenir costs you 10 euros at the exchange rate of dirhams, the shopkeepers can sell it to you for 12 or 14 euros; they will charge you a kind of commission. Keep in mind that there may be establishments that say they accept euros and that will charge you a good price but in the end they will always want to charge you a commission.
DON’T CHANGE YOUR MONEY ON THE STREET
If someone offers you a very attractive exchange rate, they may want to rip you off and give you less money. Always count your money as soon as you receive it and preferably don’t change your currency that way, there are other alternatives.
REQUEST A RECEIPT
Whenever you make the change, ask for a receipt of the purchase. Without a receipt, you may not be able to get your leftover dirhams.
CHANGE THE DIRHAMS YOU HAVE LEFT WHEN YOU RETURN
You will not want to have a considerable amount in that currency on your return. The Moroccan currency is not quoted on the currency market, it is not a convertible currency and cannot be exported.
Find out more travel tips for Morocco
About what to bring in the suitcase, the best time to travel, accommodation, documentation and requirements, internet connection, data SIM card, what to do in Marrakech, travel insurance, how is security, activities in Morocco, where and what to eat, how to rent a car in Morocco, among others