Bank of Morocco
The Dirham has been the official Moroccan currency since 1882. This currency has been continually in use except during the years of the French Protectorate. During that time, the French Franc was in circulation but by 1960, the currency reverted back to dirhams.
Currently there are banknotes in the denominations of 20MD, 50MD, 100MD and 200MD. The newest series, which features King Mohammed IV, has a modern graphic design and newer security measures. The older series of banknotes, featuring King Hassan II, is gradually being phased out.
There are also 7 different coins in circulation. The larger coins are ½ dirham, 1 dirham, 2 dirham, 5 dirham and 10 dirham. The 5 and 10 dirham coins are bimetallic and designed in a brass and silver color. The smallest coins are 10 and 20 centimes equal to 1/10th and 1/20th of 1 dirham. These are rarely used.
Tips on exchanging money in Morocco
- It is advisable to obtain Moroccan dirhams upon arrival in Morocco. Moroccan Dirhams do not circulate abroad and will be more expensive to obtain outside the country.
- Moroccan Dirhams can be easily obtained via ATM’s throughout the country
- Traveler’s Checks are accepted at banks
- The exchange rate has varied in recent years between 8.5 dirhams per 1USD to 10 dirhams per 1USD. Therefore, 100 USD would yield between 850 – 1000 MAD.