How do I exchange money / use an ATM in Morocco?

Start with one key fact: the Moroccan dirham is a "closed" currency, meaning you cannot buy meaningful amounts abroad and you should not bother trying. You get your dirhams once you arrive. The two sensible ways to do that are bank ATMs and official exchange bureaux, and between them you are covered for a whole trip. I usually pull out a chunk of cash on arrival at the airport ATM, then top up from city ATMs as needed.

ATMs generally give the best effective rate and are everywhere in cities and towns — look for the major banks (Attijariwafa, BMCE/Bank of Africa, Banque Populaire). A few habits save you money. Withdraw a larger amount less often to minimise the per-withdrawal fee. Crucially, when the machine offers to charge you in your home currency ("with conversion") versus dirhams, always choose dirhams and decline the conversion — that "dynamic currency conversion" bakes in a terrible exchange rate and is pure profit for the machine's bank. Use a card that refunds or waives foreign fees if you have one, and tell your bank you are travelling so it does not freeze the card on the first withdrawal.

For changing physical cash, use official bureaux de change — they display the posted central-bank-linked rate, charge no commission by law, and give you a receipt. Banks and many hotels also exchange. Euros and US dollars are the easiest foreign notes to bring as a backup, and I always travel with a modest cushion of euros in case a card has a bad day or I land somewhere with a temperamental ATM. Never change money with the men who approach you in the street offering a "great rate" — that is how people end up with short counts or old notes. Keep your exchange receipts, too; they let you convert leftover dirhams back at the airport when you leave.

On the ground, Morocco is still largely a cash economy once you step away from upscale hotels and big restaurants. Riads, taxis, souks, small cafés, tips and guides all expect cash, so carry it and — this matters daily — keep a good supply of small notes and coins. Breaking a 200-dirham note for a 15-dirham taxi or a few dates in the souk is a constant minor battle, and "no change" is a polite way to round you up. I deliberately hoard 20s, 50s and coins. Cards work fine for hotels, nicer restaurants and shops in tourist areas, but never rely on plastic alone for a day in the medina.