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What currency is used in Morocco?
When planning your trip, understanding what currency is used in Morocco is crucial to managing your expenses. The official currency in Morocco is the Moroccan Dirham (MAD), which is an essential part of daily life. Familiarizing yourself with how to use the local money will enhance your travel experience and make transactions at markets, restaurants, and tourist sites easier.
The Official Currency in Morocco
The Moroccan Dirham is the official currency of Morocco, represented by the symbol MAD. Here’s a breakdown of its denominations:
- Banknotes: Available in 20, 50, 100, and 200 MAD denominations.
- Coins: Common coins include 1, 5, 10, 20, and 50 centimes, and 1, 2, 5, and 10 dirhams.
These denominations are convenient for both small and large transactions during your travels.
Morocco Currency Exchange: Where to Get Moroccan Dirhams
Travelers have several reliable options for exchanging foreign currency:
- Banks: Moroccan banks provide secure exchange services. Before visiting, check the latest rates with a trusted currency converter.
- Bureau de change: These are common in airports and city centers and offer convenient access to dirhams.
- ATMs: Located in cities and towns, ATMs allow you to withdraw dirhams using your debit or credit card. Notify your bank of your travel plans to avoid disruptions.
Tips for Using Money in Morocco
- Use of cards: Credit and debit cards are accepted in upscale hotels and restaurants, but are less common in local markets. Always carry cash for small purchases.
- Keep small denominations: Coins and small bills are essential for tips, taxis and market transactions. Breaking large bills can be difficult in some places.
- Negotiate prices: Bargaining is a cultural norm, especially in markets, so feel free to negotiate prices.
Exchange rates and budgeting
Before traveling, use a currency converter to check the latest exchange rates. Rates for Morocco currency to USD or Morocco currency to Euro fluctuate, so it’s wise to monitor them for the best deals.
For your reference:
- 1 USD = 10.50 MAD
- 1 Euro = 10.30 MAD
ATMs often offer competitive rates, but fees may apply depending on your bank.
FAQs about the Moroccan Dirham
Can I use foreign currency in Morocco?
While some tourist areas will accept Euros or Dollars, the Moroccan Dirham is required for most transactions.
Is the Dirham a closed currency?
Yes, it is. You cannot take large amounts of dirhams out of the country, so exchange any leftovers before you leave.
Is tipping common in Morocco?
Yes, tipping is appreciated, especially for small services. Keep coins and small bills for this purpose.
Conclusion
Understanding the currency used in Morocco will ensure a smooth travel experience. From exchanging Moroccan currency for USD or Euros to navigating markets with cash, preparation is key. The Moroccan dirham is easy to use once you understand its denominations and exchange options. By planning ahead, you’ll feel confident managing your finances while exploring Morocco vibrant culture.