MONEY, EXCHANGE & CURRENCY IN MARRAKESH

The Dirham (MAD): Morocco’s Currency

The official currency of Morocco is the Moroccan dirham (MAD). Dirhams come in coins and banknotes, with various denominations. Familiarize yourself with the currency to streamline your transactions in the city’s bustling markets.

Currency Exchange: Souk to Souk

Banks and ATMs:

  • Banks: Marrakesh has numerous banks where you can exchange currency. Banks often offer competitive rates, and larger branches may have English-speaking staff.
  • ATMs: ATMs are widely available throughout the city, allowing you to withdraw dirhams using your international debit or credit card. Ensure your card is compatible with international withdrawals and inform your bank of your travel plans.

Currency Exchange Bureaus:

  • Souks and Medina: Currency exchange bureaus are scattered throughout the souks and Medina. While convenient, rates may vary, and it’s advisable to compare before exchanging large sums.

Credit and Debit Cards

Credit and debit cards are widely accepted in Marrakesh, especially in hotels, restaurants, and larger establishments. However, in the souks and smaller shops, cash is often the preferred method of payment. Inform your bank of your travel dates to avoid any issues with card usage.

Haggling and Cash Transactions: Souk Economics

In the lively souks, cash is king. When engaging in the time-honored tradition of haggling, having cash on hand simplifies transactions. Small denominations are useful, especially when navigating the narrow alleys of the Medina.

Currency Precautions: Safeguarding Your Dirhams

Counterfeit Awareness:

  • Be vigilant for counterfeit dirhams, especially in high-traffic tourist areas. Check your change and banknotes for security features to ensure authenticity.

Currency Conversion Apps:

  • Utilize currency conversion apps to stay updated on exchange rates and manage your budget effectively.

Tipping Etiquette: Dirhams for Gratitude

Tipping, known as “baksheesh,” is customary in Morocco. While not obligatory, it’s a gesture of appreciation for good service. Tipping is often done in dirhams, and rounding up the bill or offering small denominations is common.

Financial Preparedness: Planning Your Budget

Before your journey to Marrakesh, plan your budget considering accommodation, meals, transportation, and activities. Having a mix of cash and accessible funds via cards ensures financial flexibility.