thread: Currency and exchange

  1. #1
    Trailblazer
    Nov 2010
    Putney, London (Morocco in winter)
    301

    Currency and exchange


    King Mohammed VI is featured on all bank notes, the blue 200dh note includes his father, King Hassan II, whilst the brown 100dh note also includes King Mohammed V. Bi-metal coins on the left are used for 10dh and 5dh. The 2dh coin is octagonal, below is the 1dh coin and on the right is the 1/2dh coin. There are smaller centime coins (100 centimes = 1 dh) but these are rarely included in change.

    Exchange rates
    As of early 2011 the Moroccan dirham has an exchange rate of approximately
    - 1 = 11.2 MAD (1 dh = 9c), or
    - £1 = 13.3 MAD (1 dh = 7.5p).

    The Moroccan dirham is a closed currency and people are not supposed to export or import more than 1000 dirhams, so although it is sometimes possible to get dirhams in Europe, the exchange rate is poor.

    Morocco is very much a cash society and typically only upmarket hotels take credit cards. Others will ask you to go down the street and take some money out of the ATM (bank cash machine). You will find the following banks in Morocco
    - Banque Populaire du Maroc
    - BMCE
    - BMCI
    - Attijariwafa Bank
    - Crédit du Maroc
    - Société Générale du Maroc
    - Crédit Agricole du Maroc

    Cash machines (ATMs)
    Cash machines (French: guichet) are as ubiquitous as in Europe and it saves waiting in a queue at a bank. When you insert your card in the ATM it will automatically switch to your local language or give you a choice of English, French or Arabic. I'm not sure of the maximum amount you can withdraw, but I normally take out 2000-3000dh at a time.


    Some ATMs even change currency

    You might occasionally find that an ATM runs out of money, especially in a tourist area or at an airport. And there can be a knock-on effect—customer levels at nearby ATMs consequently rise, so you find they run out as well. The other problem is that your bank might lock your card due to unusual activity and it seems it doesn't matter at all whether or not you've told them in advance that you're going away. So (1) don't run down your dirhams too low, (2) have more than one ATM card and (3) have some readies with you that currency change places will take.

    Euros are best for spare currency (especially if you've just ridden down through Spain) otherwise take Bank of England sterling or US dollars.

    Beware of new design bank notes—when the new £20 notes were introduced I saw someone with all their travel money in the new notes and couldn't exchange them. Similar problems can arise with Scottish (Royal Bank of Scotland, Bank of Scotland, Clydesdale) notes, so take Bank of England sterling only.

    Not all currencies are readily accepted--the New Zealand and Australian dollars are two examples.

    Travellers cheques are like Betamax video tapes—people vaguely remember them, but don't use them.

    Getting change
    ATMs will give you lovely shiny 200dh and 100dh notes which aren't much use for buying a cup of tea, so you need to make change as fast as possible. Buying fuel is the easiest way—ask for 120dh of fuel (French: cent vingt dirham, SVP) and when you hand over a 200dh note you should get change of a 50dh and a 20dh note, plus a 10dh coin.
    "For sheer delight there is nothing like altitude; it gives one the thrill of adventure
    and enlarges the world in which you live,"
    Irving Mather (1892-1966)

  2. #2
    Trailblazer
    Nov 2010
    Putney, London (Morocco in winter)
    301
    New bank notes to be issued later this week, see http://www.banknotenews.com/files/tag-morocco.php
    "For sheer delight there is nothing like altitude; it gives one the thrill of adventure
    and enlarges the world in which you live,"
    Irving Mather (1892-1966)

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