Everything You Need to Know About the Moroccan Dirham Symbol

The Moroccan Dirham Symbol is a unique and essential part of navigating Morocco's economy. The dirham symbol is MAD.

In Morocco, the dirham is the official currency, and it's used extensively throughout the country. It's divided into 100 subunits called centimes.

The dirham is pegged to the euro, which means its value is tied to the euro's exchange rate. This peg helps maintain stability in the dirham's value.

You can exchange your currency for dirhams at airports, banks, and currency exchange offices.

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The Moroccan dirham has a rich history that spans centuries. The word dirham actually comes from the Greek currency, the drachma.

The Idrissid dirham, a silver coin, was minted in Morocco under the Idrisid dynasty from the 8th to 10th centuries. This was a significant milestone in the dirham's history.

Morocco issued copper coins denominated in falus, silver coins denominated in dirham, and gold coins denominated in benduqi before the introduction of a modern coinage in 1882. The dirham became a subdivision of the Moroccan rial, with 500 Mazunas = 10 dirham = 1 rial.

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The dirham was reintroduced on 16 October 1960, replacing the Moroccan franc as the major unit of currency. The franc continued to circulate until 1974, with 1 dirham = 100 francs.

The dirham has undergone significant changes over the centuries, adapting to the country's shifting power dynamics and trade relationships.

The Moroccan Dirham, or MAD, is the official currency of Morocco. It's abbreviated as DH, and its code is MAD.

The dirham is divided into 100 centimes, with coins available in denominations of 1, 2, 5, and 10 dirhams. Banknotes come in 10, 20, 50, 100, and 200 dirham denominations.

You can exchange your EUR, GBP, or USD into MAD anytime, but check the current exchange rate to ensure you get the best price. The Moroccan dirham's value can rise and fall relative to other major currencies.

Here's a quick rundown of the Moroccan dirham's denominations:

If you're planning to exchange your U.K. pounds, euros, or USD to MAD in Morocco, you'll have two options: foreign currency exchange agencies or the airport counter. However, the easiest way to get travel money in Morocco is to use an ATM to convert your currency.

The Moroccan Dirham is a closed currency, which means you can't buy it freely outside the country. So, it's best to only exchange the amount you think you'll need and spend all of it while in the country.

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The Moroccan dirham has a wide range of coins in circulation, with various denominations and compositions. The 1 dirham coin was introduced in 1960, made of silver, and later replaced with nickel in 1965.

New coinage was introduced in 1974, featuring 1, 5, 10, 20, and 50 santimat coins, with the 1 santim coin being made of aluminum and the rest being made of brass or cupro-nickel. The 5 dirham coin was introduced in 1980 and became a bi-metal coin in 1987.

Here's a brief overview of the 2012 dirham coins:

Banknotes feature the monarch of the Kingdom of Morocco. The current king, Mohammed VI, has been appearing on dirham banknotes since 2002.

In some countries, banknotes display notable figures or landmarks. The Kingdom of Morocco is one example, where the monarch's image is featured.

Dirham banknotes have been featuring the monarch since 1987, when King Hassan II was first depicted. He was the monarch until his passing in 1999.

The design change occurred in 2002, when Mohammed VI's image replaced King Hassan II's on the banknotes.

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Coins have a fascinating history in Morocco, with various designs and materials being introduced over the years. The first silver 1 dirham coins were introduced in 1960.

In 1965, nickel 1 dirham and silver 5 dirham coins were added to the mix. The 1 santim coin was made of aluminium, while the 5 to 20 santimat coins were minted in brass, with the highest three denominations in cupro-nickel.

The 1 santim was only minted until 1987, when new designs were introduced, with a 1⁄2 dirham replacing the 50 santimat without changing the size or composition. The new 5 dirham coin was bimetallic.

Here's a breakdown of the different denominations of coins currently in circulation:

In Morocco, banks are abundant, especially in larger cities, but they often close during lunchtime and have limited hours during Ramadan and summertime.

You'll need to bring your passport to enter a bank and ask for a receipt after each transaction.

Many ATMs are available throughout the country, with over 20 in the vicinity of Marrakesh's medina alone.

ATMs are a convenient option for travelers, but be sure to check with your bank and/or card provider about travel alerts and any fees or commissions.

It's a good idea to save all exchange and ATM receipts to facilitate the exchange of any leftover Moroccan money back into your local currency before departure.

Credit cards are accepted in modern shopping centers, fancier restaurants, and large hotels, but cash is still king in Morocco.

It's not uncommon for locals to carry thousands of dirhams on them, so be prepared to have some cash handy.

The Moroccan dirham is a closed currency, which means you can't buy it freely outside the country. This is why you should only exchange the amount you think you'll need and spend all of it while in the country.

The Moroccan dirham's value can rise and fall relative to other major currencies, like the EUR, GBP, and USD. You can exchange your EUR, GBP, or USD into MAD anytime, but check the current exchange rate to ensure you get the best price.

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If you plan to exchange your U.K. pounds, euros, or USD to MAD in Morocco, you'll have two options: foreign currency exchange agencies (or "bureau de change" in French) and the airport counter. However, the easiest way to get travel money in Morocco is to use an ATM to convert British pounds, euros, or US dollars to Moroccan dirham.

You can use your credit card or debit card at most mid-to-large hotels, luxury restaurants, and malls, which typically accept Visa and Mastercard. But it's always a good idea to have some cash on hand for marketplaces, small shops, emergencies, and locations outside the major cities.

To give you a better idea of the exchange rates, here are some examples:

It's also worth noting that exchange rates can fluctuate over time due to various economic, political, and market factors. A higher exchange rate means that the value of one currency has increased compared to another, while a lower exchange rate means the opposite.

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The Moroccan Dirham is the official currency of Morocco, and it's widely accepted in the country. It's divided into 100 centimes, but centimes are no longer in circulation.

You can exchange your money for Moroccan Dirhams at a currency exchange office or a bank, or withdraw it from an ATM using a debit or credit card. The exchange rate can fluctuate, so it's a good idea to check it before traveling.

It's not possible to pay with credit cards everywhere in Morocco, especially outside of major cities, so it's a good idea to have some local currency on hand.

Sending money to Morocco can be a bit tricky due to the closed currency, but it's still possible to send money to friends or family members in Morocco or into your own Moroccan bank account from overseas.

Fees can eat into your transfer amount, so look closely at the exchange rates from USD to MAD, EUR to MAD, and GBP to MAD, which are fairly stable, making it a good idea to focus on lowering your transfer fees to save more.

You'll want to see where and how your loved ones can receive the funds you send, so look for transfer companies with a wide network of partners in Morocco, like Remitly.

High fees and exchange rates are often associated with global money transfers with your international bank, sometimes constituting more than 10% of your transfer amount.

Fortunately, international money transfers are a competitive market with many trustworthy alternative providers offering better exchange rates, which almost always far outdo those you'll find at the bank.

The cheapest provider to send money abroad can differ depending on various factors, so it's a good idea to use a live comparison tool, like Monito's, to find the cheapest provider in real time.

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Travelling to Morocco requires some planning when it comes to payments. You can use credit cards, especially VISA and Mastercard, in touristy establishments, but be aware that they may incur higher fees.

Credit cards are widely accepted in Morocco, especially in tourist areas. However, debit cards linked to your bank account can also be used for purchases and cash withdrawals.

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Having some cash, in the form of Moroccan dirham banknotes, is a good idea for small purchases, tipping, and emergencies. You can exchange currency at a bank or exchange bureau before or upon arrival.

Mobile payments like Apple Pay, Google Pay, or Alipay are becoming increasingly popular, but check beforehand how available these methods are in Morocco.

A prepaid travel card can be a great option for paying in Morocco. They generally incur lower fees on Moroccan dirham currency exchange than credit cards or bank debit cards do.

Here are some payment methods to consider when travelling to Morocco:

Revolut is a global provider that offers excellent exchange rates and multi-currency balances, making it a good option for prepaid travel cards. However, availability is limited to certain countries.