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Even if you book in advance many of the services you will enjoy during your trip, especially with the help of our agency, you will always have to buy products and pay for other local services in person. Therefore, it is essential that you know the small details of the day-to-day economy, such as the currency of Morocco, some reference prices that you will find here, and other issues such as the use of credit cards. All this and much more is what we explain in the following lines.
The dirham, Currency of Morocco
When you plan your trip to Morocco, the best time to go will depend on the location you choose to explore. In general, spring is the best time to visit the country, when the trees are in bloom and the landscapes show all their beauty.
The currency of Morocco is the dirham and all prices will show its abbreviation next to the numerical value, usually after that figure. That abbreviation can be shown in two ways:
- DH or dh
- MAD (acronym for MArocain Dirham), which is its ISO code.
On a daily level, it is common to find the prices of products with the letters DH or dh, while the abbreviation MAD usually has a more international character when talking about currencies or when the content is written in English. On the other hand, keep in mind that you will often find the price in Morocco without the abbreviation in letters (neither DH nor MAD), especially in the souks. This is largely due to the Moroccan tradition of haggling, as explained below, which indicates that the value of items is left ‘open’.
Division and grouping of the Moroccan dirham: coins and banknotes
As with virtually all currencies, in Morocco, the dirham is subdivided into smaller fractions, in this case into cents, to better specify the price of goods and services. In addition, for easier handling of the money, dirhams are grouped into coins and bills of different values, above the unit.
These are the dirhams and cents that you can hold in your hand:
Tickets:
- 20 DH
- 50 DH
- 100 DH
- 200 DH
Coins:
- 1 cent
- 5 cents
- 10 cents
- 20 cents
- 1/2 DH (half dirham)
- 1 DH
- 2 DH
- 5 DH
- 10 DH
Equivalence of DH, the Currency of Morocco
This question is fundamental for your trip, since depending on the equivalence of the currency of Morocco with that of your country, you will have more or less budget at your disposal to spend here.
As you can imagine, the equivalence of the Moroccan dirham varies concerning each international currency. And it fluctuates daily, as is usual in the currency market. Therefore, we recommend that you check the equivalence of the currency of Morocco concerning that of your country before traveling, so you will have the most accurate information possible.
As a guideline, we can give you these values that were valid at the date of writing this content (beginning of January 20224):
| 1 dirham is equivalent to… | Or to put it another way: |
| 0.100 US dollars | 1 U.S. dollar equals 9.94 DH |
| 0.091 Euro | 1 euro equals 10.88 DH |
| 1.92 Mexican pesos | 1 Mexican peso is equivalent to 0.52 DH |
| 13.15 Argentine pesos | 1 Argentine peso is equivalent to 0.076 DH |
| 84.49 Chilean pesos | 1 Chilean peso is equivalent to 0.012 DH |
| 418.77 Colombian pesos | 1 Colombian peso is equivalent to 0.0024 DH |
| 3.84 Uruguayan pesos | 1 Uruguayan peso is equivalent to 0.26 DH |
| 654.31 guaraníes | 1 guarani is equivalent to 0.0015 DH |
| 0.49 Brazilian reals | 1 Brazilian real is equivalent to 2.06 DH |
| 0.36 Peruvian soles | 1 Peruvian sol is equivalent to 2.75 DH |
| 0.66 bolivianos | 1 boliviano is equal to 1.53 DH |
| 0.74 Venezuelan bolivars | 1 Venezuelan bolivar is equal to 1.35 DH |
| 0.079 pound sterling | 1 pound sterling is equal to 12.26 DH |
Where to change money in Morocco? Bank branches and offices
The best thing to do to change money is to do it in your home country. To do this, you can go to your bank and request it several days or weeks in advance. This service may be restricted to customers of that bank, but we advise you to check beforehand the policy of the bank where you wish to perform this service. You can also go to any exchange office in your city.
If you still need to change money during your trip to obtain dirhams in banknotes and coins in Morocco, the most convenient way is to go to a bank. As a general rule, banks provide this service to foreign travelers and it is a quick and easy operation for both parties. Exchange rates vary from one bank to another, so we recommend you compare before making your choice.
Bank offices are usually open from Monday to Friday, except on public holidays. The usual opening hours are from 8.30 a.m. to 3.30 p.m., except during Ramadan, when opening hours may be modified or reduced. In these bank offices, you can not only exchange foreign currency but also traveler’s checks.
In our experience, the entity that usually offers this service in more advantageous conditions is the Banque Marocaine du Commerce Extérieur (BMCE), which is currently part of the Bank of Africa group. Also, please note that credit card advances may incur an additional charge.
You can also get this service done at the Bureaux de Change, at a variable rate above or below the exchange rate offered by the banks. Exchange offices are located at strategic points in tourist destinations, mainly in city centers, airports, border crossings, and seaports. Some hotels, especially if they have large facilities such as resorts, may also have their own bureau de change. One of the advantages of bureaux de change is that their opening hours are longer than those of bank branches, and they can also be open on weekends.
In any case, for information on exchange regulations and policies, you can consult the website of the Office des Changes (in French, English, Arabic, and Amazigh), which is the Moroccan exchange agency, or visit the website of the Central Bank of Morocco.
Finally, it will be interesting to know that many local merchants accept payment in other currencies. The most commonly accepted is the Euro. You should keep in mind that, in this case, the price to be paid to the merchant may be somewhat higher than its equivalence in local currency, since that person must later change your euros to dirhams, with the cost that entails.
Cash withdrawals at ATMs in Morocco
Another even easier solution, but probably also more expensive, is to withdraw cash directly in the currency of Morocco, using your bank card at one of the ATMs in the country. This can be done at almost any ATM, using a Visa or MasterCard, which are accepted by Moroccan banks.
We say that it is more expensive because, in addition to the exchange rate applied in this way, there will be a fee imposed by the banks to those who use their network but are not their customers, especially when this happens abroad. For this reason, we give you two important pieces of advice:
- Be well informed of this cost, since each cash withdrawal has a variable rate. This means that you may want to withdraw more money in fewer withdrawals, rather than going to the ATM many times to withdraw little cash each time.
- If you can, perform this operation during the opening hours of that bank branch. That way, you will be able to turn to the branch staff in case of any eventuality.
Paying in Morocco with credit cards
To avoid having to change money, there is another even more convenient alternative: paying by credit or debit card. This way, you will not need to have dirhams in your hands, as the transaction will be paid automatically in the currency of Morocco. Moreover, it is a safer way of handling money, as you will not need to carry so much cash in your pocket. But how widespread is the use of credit cards in Morocco, and are the establishments usually equipped with dataphones and other payment devices?
For years, this means of payment has been common in high-class hotels, as well as in stores and restaurants of a certain level. Nowadays, however, their use has also become much more widespread, especially in service stations, supermarkets, and stores in general. On the other hand, its use is not so common in traditional stores in the medina and in stalls in souks and markets, as well as in stores in rural areas. This is because the use of POS terminals involves investment or costs in the form of commissions that many merchants cannot assume, and probably excuse themselves by saying that at that moment they have it broken. Therefore, in these cases, we recommend you to have cash on hand to make the payment.
No one is indeed free from being a victim of a scam, as it happens in any other country in the world. For this reason, we give you these brief tips:
- Do not let the merchant take your card to another location to introduce or approach the card to the POS. You should always be in charge of entering, approaching, or typing the code into the device.
- Cover the POS keys with your other hand or an object (a piece of paper, a cap, etc.) when you are about to enter the code.
- Always ask for the transaction ticket
- Check your bank account to verify that the charge was as expected and that there were no other suspicious charges.
- Alert your bank of any suspicious activity with your credit card.
How are the prices in Morocco
If you ask a Moroccan what is the cost of living in Morocco, he will probably tell you “very expensive”, compared to his salary. And he might be right. It is quite another matter how it compares to the cost of living in your country of residence. In that case, the chances are that it will be lower and, therefore, you will be able to get by on a relatively basic budget.
Of course, you should keep in mind that whims are paid for, such as a beer. This is because it is considered a product forbidden by Islam, for being alcoholic, and its high price in Morocco is an additional barrier to its consumption.
Of course, prices in Morocco vary greatly from one region to another, from one city to another, and even from one neighborhood to another. Therefore, to get an idea of this, it is useful to use some international indicators or comparators, which show average prices for certain products and activities.
In this sense, here we show you some prices of interest for a traveler, transformed into US dollars, according to Numbeo’s estimates at the time of writing this content (January 2024). We have chosen two representative cities, because of their large difference in the cost of living, and we have also added the estimated average of those products and services in the country as a whole:
Marrakech: it is not the capital of the country nor the most populated city, but it is the one with the greatest tourist attraction, and this is reflected in relatively high prices, especially those more oriented to tourism, such as the hotel industry. In any case, it does not reach the level of other large cities in the world. For example, it is estimated to be almost 41% cheaper than Barcelona.
- A menu for two people in a mid-level restaurant, with several courses: 350 DH ($33.17).
- A standard menu in a McDonalds: 57.50 DH ($5.45)
- One imported beer (33 cl): 50 DH (4.74 $)
- A cappuccino coffee: 17.50 DH (1.66 $)
- Single ticket on local transport: 4 DH (0.38 $)
- Cab fare (1 km): 5 DH (0.47 $)
- 1 liter of gas: 14.03 DH ($1.33)
- A pair of jeans of average quality or equivalent: 325.64 DH ($30.87)
- An average salary (net): 3,829.97 DH (363.02 $)
Ouarzazate: is considered the gateway to the desert. Its location south of the Atlas and relatively far from the big cities makes its cost of living significantly lower than other cities. In any case, being a city of more than 100,000 inhabitants, its prices are higher than those you will find in small towns in the rural world.
- A menu for two people in a mid-level restaurant, with several courses: 100 DH ($9.48).
- A standard menu in a McDonalds: 40 DH (3.79 $)
- One imported beer (30 cl): 37.50 DH (3.55 $)
- A cappuccino coffee: 13.33 DH (1.26 $)
- Single ticket on local transport: 6 DH (0.57 $)
- Cab fare (1 km): 5 DH (0.47 $)
- 1 liter of gas: 10.00 DH ($0.95)
- Average quality jeans or equivalent: 200 DH ($18.96)
- An average salary: 3,000 DH ($284.35)
Morocco in general: the cost of living is estimated to be almost 40% lower than in Spain, its closest European neighbor.
- A menu for two people in a mid-level restaurant, with several courses: 200 DH ($18.96)
- A standard menu in a McDonalds: 55 DH ($5.21)
- One imported beer (30 cl): 300 DH (2.84 $)
- A cappuccino coffee: 15.61 DH (1.48 $)
- Single ticket on local transport: 5 DH (0.47 $)
- Cab fare (1 km): 7 DH (0.66 $)
- 1 liter of gasoline: 13.52 DH ($1.28)
- Average quality jeans or equivalent: 282.85 DH ($26.81)
- An average salary: 3,990.78 DH ($378.26)
Tipping rules in Morocco
Tipping in Morocco is voluntary, but in some cases, the customer is expected to tip in a more or less standardized way. In particular, in the higher level restaurants: it is expected to add between 10% and 15% of the total amount as a tip. On the other hand, tipping a few coins in Morocco may be considered sufficient in more humble stores or when the service offered is of low value.
There are certain services in which tips represent a very important part of the economic income of that professional, for example, tourist guides bath cleaners, or hammam attendants. In other cases, tips are practically the only means of subsistence for these people, such as valet parking attendants.
How Bargaining Works in Morocco
Bargaining is such an important aspect of Moroccan daily life that we have decided to dedicate a large space to it on the Customs and Traditions page. There you can consult when to resort to it, in what terms, and other useful tips to apply at that time.
