1. What is the official currency of Morocco?

The official currency of Morocco is the Moroccan dirham (MAD).

2. Are there any restrictions on foreign currency transactions in Morocco?

Yes, there are restrictions on foreign currency transactions in Morocco. The Moroccan government imposes certain limitations and procedures for exchanging foreign currencies and transferring money out of the country.

For individuals, there is a limit of 100,000 dirhams (approximately $10,000) per year for outward transfers of foreign currency. This limit does not apply to transfers related to investments or business activities approved by the Ministry of Finance.

For businesses, there are limits on the amount of foreign currency that can be purchased for commercial transactions, with the goal of promoting the use of local currency. Additionally, businesses must provide supporting documentation for all foreign currency purchases.

Certain types of transactions may also require prior authorization from the Central Bank before they can be completed. These include large transfers (over 1 million dirhams), transfers to countries that have no exchange agreements with Morocco, and transfers made through unauthorized channels.

It is important to note that Morocco operates a closed exchange system, meaning that it is illegal to bring more than 1000 dirhams into or out of the country without prior authorization from the Central Bank. Violation of these regulations can result in fines and legal consequences. It is advisable to consult with a financial advisor or bank representative before conducting any large or complex foreign currency transactions in Morocco.

3. What is the current exchange rate for local currency to US dollar in Morocco?

The current exchange rate for Moroccan Dirham (MAD) to US Dollar (USD) as of February 10, 2021 is approximately:

1 MAD = 0.11 USD

or

1 USD = 8.98 MAD

4. Is it better to use cash or credit cards for purchases in Morocco?

It is generally better to use cash in Morocco, as credit cards may not be accepted in some smaller shops and markets. It is recommended to have a mixture of both, as larger establishments and hotels will likely accept credit cards. Additionally, using a credit card may incur foreign transaction fees, so it is important to check with your bank beforehand.

5. Do businesses in Morocco typically accept US dollars or do they prefer local currency?

It is generally preferred to use the local currency, Moroccan dirham, in business transactions in Morocco. While some international businesses may accept US dollars, it is not a common practice and may be subject to additional fees for currency conversion. It is recommended to exchange your US dollars for dirhams at a bank or exchange office before making any purchases or conducting business in Morocco.

6. Are there any hidden fees or charges when exchanging money in Morocco?

Yes, there may be hidden fees or charges when exchanging money in Morocco. Some exchange offices may charge a commission or service fee for the transaction, and some banks may have hidden fees such as a foreign transaction fee. It is important to ask about any fees or charges before completing an exchange, and to compare rates between different exchange offices to get the best deal.

7. Can I use ATMs from my home country bank in Morocco to withdraw money?

It is unlikely that you will be able to use ATMs from your home country bank in Morocco to withdraw money directly. Most ATMs in Morocco only accept local debit and credit cards. However, you may be able to use your card to withdraw cash over the counter at certain banks, depending on the policies of your home bank and the specific bank in Morocco.

It is recommended that you contact your home bank before traveling to inquire about their policies for international ATM withdrawals and any associated fees. You may also want to consider obtaining a travel money card or notifying your bank of your travel plans so that they are aware of potential international transactions and can provide assistance if needed. Alternatively, you can exchange currency at a local bank or currency exchange kiosk once you arrive in Morocco.

8. Is it necessary to tip service workers and what is the customary amount in Morocco?

Yes, it is customary to tip service workers in Morocco. The amount of the tip can vary depending on the quality of service provided, but a general rule of thumb is to give 10-15% of the total cost. For example, if your bill at a restaurant is 200 dirhams, you could leave a tip of 20-30 dirhams. You may also choose to leave smaller tips for smaller services, such as 2-5 dirhams for a taxi ride or hotel porters. It is always appreciated to show your appreciation through tipping, but it is ultimately up to your discretion.

9. Can I purchase traveler’s checks before traveling to Morocco, and are they widely accepted?

It is not common for traveler’s checks to be used in Morocco, and they may not be widely accepted. It is recommended to bring a combination of cash and credit or debit cards instead. If you do choose to purchase traveler’s checks, it is advised to do so in major currencies such as US dollars or euros, and to purchase them from a reputable bank or financial institution.

10. Are there any restrictions or limits on bringing foreign currency into or out of Morocco?

There are no restrictions or limits on bringing foreign currency into Morocco. However, amounts exceeding MAD 100,000 or equivalent must be declared upon entry and exit.

11. Do major hotels and restaurants accept credit cards, and if so, which types are most commonly accepted?

Most major hotels and restaurants in the United States accept credit cards, with Visa and Mastercard being the most commonly accepted. American Express and Discover are also widely accepted, but may not be as commonly seen as Visa or Mastercard. It is always best to check with the specific hotel or restaurant beforehand to ensure they accept your preferred type of credit card.

12. Are there any unique features of the currency used in Morocco, such as coins with different values or special designs?

Yes, the official currency of Morocco is the Moroccan Dirham (MAD), which comes in both coins and banknotes. Coins are available in denominations of 1, 5, 10 and 20 dirhams, as well as smaller values of 50 centimes and 1 and 2 dirhams.

One unique feature of the Moroccan coins is that the designs on them change every few years to showcase different aspects of Moroccan culture and history. For example, the most recent version of the 10 dirham coin features an image of King Mohammed VI on one side, while the other side depicts a portrait of Princess Lalla Fatima Zahra, sister of the King.

Another interesting feature is that some coins have strategic holes punched in them to differentiate between different values. For example, the 5 dirham coin has a hole in its center, while the 2 dirham coin has a square-shaped hole.

Additionally, some larger value coins may come with commemorative designs or limited edition versions for special events or anniversaries. These can be collected as souvenirs or kept as keepsakes.

Overall, these unique designs and features make handling and using Moroccan currency an interesting experience for visitors to the country.

13. Is haggling acceptable when making purchases, especially in markets and smaller shops?

Haggling is generally acceptable in markets and smaller shops, but it may not be as common in larger stores or establishments. It’s important to always be polite and respectful when haggling, and to understand the cultural norms and expectations around bargaining in the particular place you are visiting.

14. Can I pay for goods and services with a mix of both local currency and US dollars?

Yes, it is possible to pay for goods and services with a mix of both local currency and US dollars. However, this may vary depending on the country and the business you are dealing with. Some businesses may only accept local currency while others may accept a combination of both. It is always best to check with the business beforehand to see what forms of payment they accept. Additionally, the exchange rate between local currency and USD may also be different depending on where you are making the transaction. It is advisable to have an understanding of the exchange rate before making your purchase.

15. What is the most convenient way to exchange money while traveling through different regions of Morocco?

The best way to exchange money while traveling through different regions of Morocco is to use ATMs or withdraw cash from a local bank. It is important to check with your bank beforehand to make sure your card will work abroad and to notify them of your travel plans. Additionally, some larger hotels and tourist areas may accept major credit cards, but it is always wise to have cash on hand for smaller purchases.

16. Are there alternative forms of payment in addition to cash and credit cards, such as mobile payments or digital wallets in Morocco?

Yes, there are alternative forms of payment available in Morocco. Some popular options include:

1. Mobile Payments: Mobile payment services such as Orange Money, Inwi Money, and MTN Mobile Money allow users to make payments using their mobile phones.

2. Digital Wallets: Popular digital wallets in Morocco include Fawry, Ma Daba, and Payeer which allow users to make payments online.

3. Bank Transfers: Bank transfers can be done through online banking or by visiting a local bank branch.

4. Prepaid Cards: Visa and Mastercard prepaid cards are accepted at many merchants in Morocco and can be purchased at banks or at some stores.

5. E-Wallets: Companies like PayPal and Skrill offer e-wallet services that allow users to store funds digitally and make payments online.

6. Contactless Payments: Some merchants in major cities accept contactless payments through NFC-enabled devices or cards.

7. Cheques: Cheques are still commonly used for large transactions and can be issued by both individuals and businesses.

It is important to note that while these alternative forms of payment are available, cash is still the most widely accepted form of payment in Morocco.

17. Is tipping expected during taxi rides, at hotels, or at other specific locations like spas or salons in Morocco?

In Morocco, tipping is generally expected in certain situations. It is customary to tip taxi drivers around 10% of the fare, and hotel staff such as porters and housekeeping staff should also be tipped a small amount (around 10-20 dirhams) at your discretion.

At spas and salons, it is common to tip 10-15% of the service cost, especially if you were satisfied with the service. However, tipping at these establishments is not mandatory.

It is also common to tip servers at restaurants around 10% of the total bill, but this may already be included in some places as a service charge so check your bill before tipping.

In general, tipping in Morocco is optional but appreciated for good service. Make sure to have small change on hand for easy tipping.

18. Are there certain stores where tourists can receive tax refunds on their purchases before leaving Morocco?

Yes, tourists can receive tax refunds on their purchases at certain stores in Morocco. These stores are affiliated with the Tax Free Shopping network and display the “Global Blue” or “Premier Tax Free” logo. Some popular stores that offer tax refunds to tourists include Galeries Lafayette, Zara, and Sephora. Tourists must present their passport and completed tax refund form at the store to receive their refund.

19..How should I handle my leftover foreign currency when departing from Morocco, including coins and smaller bills?

1. Exchange it at the airport: The easiest and most convenient way to handle leftover foreign currency is to exchange it for your own currency at the airport before departing. Most airports have currency exchange counters where you can convert your remaining money.

2. Use it for souvenir shopping: If you have small bills or coins, you can use them to buy souvenirs at the airport or in local markets before leaving Morocco.

3. Spend it at duty-free shops: If you are leaving from an international airport, you can use your leftover foreign currency to shop at the duty-free stores. Many airports accept multiple currencies, so check with the staff before making a purchase.

4. Keep it as a memento: If you have a small amount of foreign currency left, consider keeping it as a memento of your trip. You can save it in your travel journal or create a display with all the different currencies you collected during your travels.

5. Donate it to charity: There are organizations and charities that accept foreign currency donations to support their causes. Consider donating your leftover money to one of these organizations on your way out of Morocco.

6. Exchange it back in your home country: If you were unable to exchange your foreign currency at the airport, don’t worry, most banks and currency exchange offices in major cities will be able to convert Moroccan dirhams into your own currency.

7. Use it for future travels: If you plan on traveling back to Morocco in the future, keep your leftover foreign currency safely stored for your next visit.

Remember, if you have large amounts of Moroccan dirhams left over, try not to leave the conversion till last minute as some banks may not have enough stock of Moroccan dirhams available for conversion so close to departure dates.

20. Is there a limit on the amount of local currency I can withdraw from ATMs in Morocco each day?

Yes, there is typically a limit on the amount of local currency you can withdraw from ATMs in Morocco each day. This limit varies depending on the bank and type of account you have. It can range from 2,000 to 5,000 Moroccan Dirhams (MAD) per day. Some banks may also have limits on the number of withdrawals you can make in a day. It is best to check with your bank to see what specific limits apply to your account.