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Currency and Cost of Living

Morocco - Currency and Cost of Living


Currency

The local currency is the Moroccan dirham (Dh or MAD), which is divided into 100 centimes (c).

£1 is worth Dh 15.15, US$1 is worth Dh 7.66 and 1 Euro is worth Dh 11.35 (as of 04-Feb-2008).

There are 5c, 10c, 20c, 50c, Dh 1, Dh 2, Dh 5, Dh 10 coins, although coins smaller than 20c are rarely seen these days. Notes are available in denominations of Dh 10, Dh 20, Dh 50, Dh 100, and Dh 200.

Only local currency is officially accepted in Morocco, although some hotels may accept your EUR/USD unofficially.

Money Exchange: It's forbidden to bring local currency out of the country, so it's virtually impossible to obtain local currency outside Morocco. Exchange rates are the same at all banks and official exchanges, as required by law.

Don't expect to see many banks in the souqs or medinas, but plenty of "helpful" people will exchange dollars or euros for dirhams. Unofficial exchange on the streets outside souqs or medinas doesn't seem to exist.

Besides banks and dedicated exchange offices, major post offices provide exchange, and work until late hours. There are several exchange offices in Casablanca airport.

ATMs can be found near tourist hotels and in the modern ville nouvelle shopping districts. Make sure that the ATM accepts foreign cards (look for the Maestro, Cirrus or Plus logos) before you put your card in.

Try to have as much small change as possible and keep larger bills hidden separately.


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