Cash in Morocco

catboxfive

I'm a bit confused with the "closed currency" situation in Morocco as it seams that I can buy cash in the UK to take with me. The Travel Money Max section of Money Saving Expert (I can't past links yet) even tells me where.

la531983

Would suggest in that case its an error, the closed currency situation hasnt changed recently.

SimplyBetter

la531983 said:

Would suggest in that case its an error, the closed currency situation hasnt changed recently.

Incorrect.

Taking money into or out of Morocco

You can take up to 2,000 Moroccan dirham into or out of Morocco. The dirham is ‘non-convertible’ – it cannot be easily exchanged for other currencies .

gov.uk/foreign-travel-advice/morocco/entry-requirements

Though since the official exchange rate is 12.59 to the £, best to use a cashpoint when you get there.

la531983

SimplyBetter said:

la531983 said:

Would suggest in that case its an error, the closed currency situation hasnt changed recently.

Incorrect.

Taking money into or out of Morocco

You can take up to 2,000 Moroccan dirham into or out of Morocco. The dirham is ‘non-convertible’ – it cannot be easily exchanged for other currencies .

gov.uk/foreign-travel-advice/morocco/entry-requirements

Though since the official exchange rate is 12.59 to the £, best to use a cashpoint when you get there.

Yes I know that, so how likely do you think it is that a bureau de change is offering them for sale when a private individual can only take £80 out of the country? Wont be many who will.

SimplyBetter

la531983 said:

SimplyBetter said:

la531983 said:

Would suggest in that case its an error, the closed currency situation hasnt changed recently.

Incorrect.

Taking money into or out of Morocco

You can take up to 2,000 Moroccan dirham into or out of Morocco. The dirham is ‘non-convertible’ – it cannot be easily exchanged for other currencies .

gov.uk/foreign-travel-advice/morocco/entry-requirements

Though since the official exchange rate is 12.59 to the £, best to use a cashpoint when you get there.

Yes I know that, so how likely do you think it is that a bureau de change is offering them for sale when a private individual can only take £80 out of the country? Wont be many who will.

What on earth are you going on about?   What does £80 have to do with anything? You can take 2,000 Dirhams in and/or out without declaration. The first post is with reference to taking 1,000 Dirhams with them. What's your point?

la531983

Never mind, i have misread.

SimplyBetter

Even if you have worst debit card going, it will still be cheaper to pull money out of an ATM at the local airport. Let's say you have a horrible debit card that has a forex fee of 2.99% and charges you £2 per withdrawal...it would still cost you just £83.91 for a withdrawal of 1,000 Dirhams. With a fee free card, £79.53. These figures are with reference to Mastercard.

Contrast that with 1005 Dirhams for £100.

catboxfive

So is it better to hold fire and ATM cash at the airport ? I was under the impression that the airport was expensive. 

SimplyBetter

catboxfive said:

So is it better to hold fire and ATM cash at the airport ? I was under the impression that the airport was expensive. 

Now you know better..

LightFlare

catboxfive said:

So is it better to hold fire and ATM cash at the airport ? I was under the impression that the airport was expensive. 

last time we went - because its a closed currency, the rate doesnt change.

you may get less favourable (via charges) from an ATM

we just took £ notes and changed as and when we needed. Plenty of places available

zagfles

General rule with minor currencies is they are expensive to buy in the UK and cheap to buy locally and there are loads of change places in anywhere remotely touristy. We just used ATMs in Morocco, I think there was a charge but it wasn't much, cheaper than changing cash.