OFX USD to MAD Exchange Rates

OFX at a glance

OFX has a 20-year history and is one of the largest foreign exchange specialists in the world. It offers a complete foreign exchange solution, including discounted money transfers, currency hedging tools, recurring transfers, a multi-currency account for online sellers and much more.

OFX grew from the idea that there had to be a better, fairer way to move money around the world. That was over 20 years ago, and since then over 1 million customers have trusted OFX with transfers in 50+ currencies to over 170 countries.

OFX don’t just offer great rates, they believe real help from real people counts. That’s why their clients get the best of both worlds – a seamless digital platform, combined with 24/7 phone access to currency experts.

When it comes to moving money, peace of mind is important. OFX is monitored by over 50 regulators globally and work within a network of carefully selected banking partners. So whether you are sending money to friends and family abroad, or doing business across borders, OFX can get your money where it needs to go. Fast, simple, secure.

*Minimum transfer amount apply. Please note that the receiving bank or intermediary bank may charge fees on transactions.

USD to MAD Market Data

US dollar (USD) to Moroccan dirham (MAD) market data - latest interbank mid-rate, trend, chart & historic rates.

1 USD = MAD

USD to MAD at 10.09 is 1.2% below its 3-month average of 10.21, having traded in a very stable 3.3% range from 10.04 to 10.37

04-DEC 7PM-NY 05-DEC 12AM-LON 8AM-HK 11AM-SYD

Sell USD → Buy MAD

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1 MAD = 0.098855 USD

60-DAY LOW5d

Date	USD/MAD	Change	Period
07 Jul 2023	9.7805	0.9% ▼	2 Week
22 Apr 2023	10.13	4.3% ▼	3 Month
21 Jul 2022	10.18	4.8% ▼	1 Year
22 Jul 2018	9.4325	2.8% ▲	5 Year
23 Jul 2013	8.4441	14.8% ▲	10 Year
26 Jul 2003	9.4435	2.6% ▲	20 Year

USD/MAD historic rates & change to 21-Jul-2023

USD/MAD - General outlooks

US dollar:

Economists expect the US dollar’s strength over the past year to eventually reverse into 2024 as the Fed’s interest rate hikes cycle finally comes to an end.

How to get a good USD to MAD exchange rate

There are several ways to save on exchange rates when converting US dollar to Moroccan dirham:

Shop around for the best USD/MAD exchange rate: Exchange rates can vary significantly between different currency exchange providers, so it's important to compare rates from different sources before making a conversion.
Timing is important: Keep an eye on the USD/MAD rate on currency markets, as exchange rates can fluctuate frequently. Try to make your transactions when the exchange rate is in your favor. You can do this easily with our BER Smart Rate Tracker.
Use a credit/debit or travel card that doesn't charge foreign transaction fees: Some credit cards charge additional fees for transactions made in a foreign currency, so it's important to check with your card issuer to see if they charge these fees and what their exchange rate is.
Use a multi-currency account: Having a multi-currency account allows you to hold and transfer money in both USD and MAD at close to the interbank rate. It also allows you to make payments or withdrawals in the local currency while avoiding high conversion fees.
Buy currency in advance: If you know that you will need foreign currency in the future, consider buying it in advance when the exchange rate is favorable.

The key is reducing excessive costs and fees

Generally speaking, if you are buying Moroccan dirham with US dollar, then it's better for the USD/MAD exchange rate to be higher.

However working against you are the fees all foreign exchange providers charge for providing their service. These fees is usually contained within the exchange rate margin (or difference to the mid-rate).

The transaction margin you end up being charged can be considerably reduced by around a few percent (of total amount being exchanged) for travel money and possibly over 5% to 6% when sending money. The exact potential savings depends on the currencies being exchanged and the amount you are transferring and if you are willing to shop around.

Our real-time foreign transfer and travel money/cards comparison calculators make shopping around easy and help you calculate how much you can save.

It's worth noting that while these tips can help you save on exchange rates, it's important to be aware that no single method is guaranteed to provide the best exchange rate in every situation, and it may require some research and comparison-shopping to find the best option for your specific needs.

Will the US dollar rise against the Moroccan dirham?

It is almost impossible to predict what an exchange rate will do in the future, the best approach is to monitor the currency markets and transact when an exchange rate moves in your favour.

To help with this you can add USD/MAD to your personalised BER Smart Rate Tracker to track and benefit from currency movements.

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Rather than requiring you to set a target rate, our FX Alerts work differently. Once you add a currency pair for tracking in your watchlist we can select to be notified daily for any UP▲ DOWN▼ HIGH▲ LOW▼ alerts over a range of periods over the recent 90 days.

Read our Currency guide to Morocco - a practical currency and money guide to travel, living and doing business in Morocco with the Moroccan dirham.

Country Currency Guides

United States (USD)

Morocco (MAD)

Western Sahara (MAD)

Buying property in Morocco

In recent years Marrakech has seen a number of high-profile property scams - typically sales by those who didn't actually own the land.

The government is working to bring property registration in line with the French model of title deeds issued via land registry, overseen by notaries. The vast majority of new homes in and around Marrakech are sold in this way.

Real estate agents advise that customers should avoid buying property using the older system based on local Islamic law.

Buyers should avoid buying a property until the title deed has been obtained. Typically the buyer will deposit ten percent of the purchase price with the Notary. When the requisition is obtained, typically 4 to 6 weeks later, the buyer will pay the rest of the purchase price.

Read more at our Morocco (MAD) country guide

Related exchange rates

Forecasts disclaimer: Please be advised that the forecasts and analysis of market data presented on BestExchangeRates.com are solely a review and compilation of forecasts from various market experts and economists. These forecasts are not meant to reflect the opinions or views of BestExchangeRates.com or its affiliates, nor should they be construed as a recommendation or advice to engage in any financial transactions. Read more

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