In each country, the monetary unit goes through a certain stage of formation and has its own special history. Morocco is no exception.
The modern currency of this country is the Moroccan Dirham. This currency is popular in the Arab states.
Morocco Currency: General Information
In each bank and on many sites you can always see the ratio of the Moroccan currency to the ruble (approximately one dirham is equal to seven Russian rubles). It is worth noting that the currency of Morocco - the dirham - is equal to one hundred centimes.
Today, banknotes of 10, 20, 50, 100, 200 face value are used in the country. The national currency in Morocco is issued by the country's central bank. In monetary circulation there are also coins that come in various denominations. First of all, it is worth mentioning the bargaining money of 5, 10, 20 centimes. In addition to them, in Morocco there are coins issued in dirhams. Their denomination is also different: 0.5, 1, 2, 5, 10 dirhams.
A bit of history
The currency of Morocco, as noted above, is issued by the main central national banking organization, Bank al-Maghrib. The year 1959 is considered the date of foundation and beginning of the activity of this system.
It is worth noting that until 1960, the currency of Morocco was completely different - the Moroccan franc. Documents of the same year speak of the first issue of a monetary unit. At this time, the first coins of silver with a denomination of one dirham were issued, and then money was made from nickel (in 1 dirham) and silver (in 5 dirhams). And only in 1974 nickel coins in centimes appeared in circulation.
Rate
In 1985, it was determined that the dirham would be floating against hard currencies. It is definitely worth noting that today the national currency of Morocco is quite stable. The state is engaged in its installation. There is a ban on the export of amounts over $ 500 in the country. For the export of banknotes in larger amounts, a special permit from the state of the established form will be required.
Currency exchange
Get national money in this country will not be a problem. Such operations are carried out:
• Banks.
• Exchange points in hotels, restaurants.
• Exchange offices located on the streets.
Each country has its own black exchange market, but it is not worth it to conduct such operations on private streets. Although the course can be more profitable than in banking organizations, the risk of becoming a victim of scammers and acquiring fake banknotes is great enough. If the currency of Morocco is pre-purchased and imported into the country, it is best if it is a new type of banknote, without marks with a pen or ink seals. But you can get money in the country itself, most often banks are open on weekdays from 8.30 to 18.00. Each has his own work schedule, so specifying the exact time will not work.
ATMs are widely distributed in Morocco, which are located near many retail outlets and restaurants. But their use has its advantages and disadvantages. The plus is that most plastic cards are served not only at ATMs and payers, but are also accepted at many restaurants and hotels. In addition, such ATMs, as a rule, work around the clock, so the currency of Morocco is available for exchange at any time. But there are also disadvantages - a rather high commission for withdrawing funds using an ATM.
And it is necessary to have cash, since almost all private traders work only with it. Therefore, before you go to the country, you need to find out what currency is in Morocco, what is its current rate and where are the most profitable exchange points.Experienced tourists recommend traveling to this country with American dollars and exchanging them for local money at a vacation spot. Since the exchange rate will be more profitable than the single European currency. But there is nothing to do with Russian rubles in Morocco, therefore, before departure, the issue of currency must be resolved.
