Foreign Exchange Guide to Morocco
In this guide we review :
- Moroccan Dirham info - general info about the Moroccan Dirham
- Moroccan Dirham in the markets - recent MAD moves and predictions from the FX markets
- Travelling in Morocco - currency & money saving tips
- Buying Moroccan Dirham cash online - travel money for Morocco
- Sending money to Morocco - save on Moroccan Dirham bank transfers to Morocco
- Moroccan Dirham exchange rates - latest info & charts.
Moroccan Dirham (MAD) general currency information
What is the Moroccan Dirham currency code and symbol?
The three letter currency code for the Moroccan Dirham is MAD and the symbol is د.م..
Which countries use the Moroccan Dirham?
Moroccan Dirham (MAD) in the markets
The interactive chart below shows the MAD to USD exchange rate for the previous 3 months with rate alerts for days when the exchange rate moved up or down significantly or for 30 day highs and lows.
Currency and money saving tips for Morocco
Go in spring when lots of Morocco is lush and green. Don't underestimate the extremes of summer and winter, they can be brutal. Ramadan is an interesting time to travel, but be aware that many restaurants and cafes will be shut during the day.
Stay in a riad, they are a traditional Moroccan house built around an internal garden. Treat bargaining in souks as a friendly game. It’s an intrinsic part of the culture and is always expected of you, so just ignore the first price a merchant puts forward.
Petit and Grand taxis are a great way to get around, but be prepared to wait, grand taxis won't leave until all six cramped places are full. Agree the taxi fare before entering a petit taxi. You can normally get anywhere in Marrakech for under 50 dh. Visit Saadian tombs but decline the offer of a tour guide, they are worth seeing but aren't that big. Be sure to watch the main square come alive from a rooftop restaurant.
While most visitors head for Marrakesh don't miss Fez. For visitors, the medina of Fès el-Bali (Old Fez) is the city’s great draw. It’s an astounding view of the old world, filled with narrow lanes and covered bazaars fit to bursting with aromatic food stands, craft workshops, mosques and an endless parade of people. Old and new collide, the man driving the donkeys and mules that remain the main form of transport is likely to be chatting on his mobile phone, while the ancient skyline is punctuated equally with satellite dishes and minarets.
Morocco Trip Checklist
- Compare MAD travel cash rates - probably why you are here!
- Search Hotel deals - Save on your accomodation in Morocco
- Lonely Planet - world's best travel guide (coupon and deals)
Travel money for Morocco
Save money and time by Ordering your Moroccan Dirham online from Travelex, you get better rates and can pick up the MAD cash locally or even on travel day at the airport.
Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.
For card purchases if offered a choice of currencies always select to Pay in Moroccan Dirham otherwise you may get much worst exchange rates.
Travel Money for Morocco
Sending money to Morocco
When sending money to Morocco it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 3 simple steps :
- Open an account with a BER reviewed FX provider (id docs may be required)
- You specify the local or Moroccan Dirham amount you want to transfer
- Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
- Once your funds are received by the provider the converted MAD amount will be transfered to the recipient account you specify in Morocco.
By comparing the rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Moroccan Dirham deposited into the recipient bank account in Morocco and less margins and fees kept by the banks!