Morocco saw a 20% increase in the number of visitors in 2024 compared to the previous year. This record surge solidified Morocco’s position as the most-visited country in Africa. From the Atlas Mountains and Sahara Desert to ancient cities and vibrant coastal areas, Morocco is a fascinating destination for tourists, entrepreneurs, expatriates, and digital nomads.

When travelling to Morocco, having access to local currency is essential for making purchases, especially in markets, small shops, and rural areas. If you are considering travelling to Morocco soon, it is important to have a reliable plan for your currency exchange. However, exchanging money safely requires caution and awareness because there have been multiple reports of scams, excessive fees, or security risks.

This guide shows how to exchange currency safely when visiting Morocco.

How to exchange currency safely when visiting Morocco

Here are the safest ways you can exchange currency when visiting Morocco.

1. Use official exchange offices

One of the safest and most reliable ways to exchange money in Morocco is through official currency exchange offices. These are also known as bureaux de change. These offices are licensed by the government and offer fair exchange rates without excessive fees. You can find them at airports, major cities, hotels, and commercial centres.

Some of the benefits of using bureaux de change include:

• Transparent exchange rates with clear displays.
• No hidden fees or commissions.
• Secure and legal transactions.
• Receipt provided for future reference.

Read also: Top virtual banking solutions for freelancers in Morocco

2. Withdraw from ATMs

ATMs are another convenient option for obtaining Moroccan dirhams (MAD). Most international debit and credit cards work at Moroccan ATMs, especially those from major networks like Visa and Mastercard. However, always use ATMs inside banks or secure locations to minimise the risk of card skimming or fraud.

Here are some tips for using ATMs safely:

• Withdraw from ATMs attached to reputable banks (e.g., Attijariwafa Bank, BMCE Bank, Banque Populaire).
• Check your bank’s foreign transaction fees before travelling.
• Avoid withdrawing large amounts at once to reduce security risks.
• Cover your PIN when entering it.

3. Avoid exchanging money on the street

Street money changers may offer attractive rates, but they are not a safe option. Many travellers have fallen victim to scams, counterfeit notes, or dishonest exchanges. To ensure a legal and transparent transaction, stick to official exchange points.

4. Exchange money at hotels and banks

Some hotels provide currency exchange services, which can be a convenient option, especially upon arrival. However, hotel exchange rates may not always be the most competitive. Banks also offer currency exchange services, though they may require additional paperwork.

Here are some key points to consider before using currency exchange services at hotels and banks:

• Hotel exchange rates may be slightly less favourable.
• Banks offer reliable services but may have long queues and stricter procedures.
• Always ask for a receipt in case you need to exchange unused currency before leaving Morocco.

Read also: How to get an instant USD debit card in Morocco

5. Monitor exchange rates

Before exchanging money, check real-time exchange rates on platforms like Grey, XE.com, or Google. This helps you understand the current market value of your currency and avoid unfair exchange rates. Also, be mindful of exchange rate fluctuations and the difference between buying and selling rates.

6. Use credit/debit cards for larger transactions

Many establishments in Moroccan cities accept Visa and Mastercard, making credit or debit cards a good option for major expenses like hotel stays or restaurant bills. However, always carry some cash for small purchases, as not all vendors accept cards.

Take note of these credit/debit card safety tips:

• Use a card with no foreign transaction fees to save money.
• Inform your bank of your travel plans to prevent transaction blocks.
• Keep an eye on your statements for any fraudulent activity.

7. Keep receipts for currency exchange

If you exchange a large sum of money, keeping receipts is a good practice. Some exchange offices require a receipt if you want to convert leftover dirhams back to your home currency before leaving Morocco.

8. Use reliable digital currency exchange solutions

You can exchange currency safely when visiting Morocco with fintech solutions like Grey. They offer swift currency exchange with competitive rates. You can exchange currency from anywhere and at any time. This convenience, among other benefits, makes them stand out from other safe currency exchange options.

Exchange currency safely when visiting Morocco

Exchanging currency in Morocco can be safe and hassle-free when using the right methods. Bureaux de change offers security, fair rates, and transparency. However, exchanging currency in Morocco with Grey offers convenience, speed, and competitive rates. Users can receive international payments in USD, GBP, and EUR and convert them to Moroccan dirhams (MAD).

Grey prioritises security with end-to-end encryption for transactions, ensures fast processing times for currency exchange, and transparent and competitive exchange rates.

By following these guidelines and choosing reliable exchange methods, you can ensure a smooth and safe experience when handling currency in Morocco.

Sign up on Grey today or download the mobile app to exchange currency safely when visiting Morocco.