Where do I exchange money in Morocco, and where do I get the best rates?

There are three sensible places to get dirhams, and one place to firmly avoid. The best everyday option is a bank ATM — the rate you get on a card withdrawal is the genuine interbank rate, which beats almost any cash exchange. ATMs are everywhere in cities and towns (look for major banks like Attijariwafa, BMCE/Bank of Africa, Banque Populaire), reliable, and available 24/7. The only catch is the machine's own withdrawal fee and possibly your home bank's foreign fee, so I draw larger amounts less often rather than tiny sums repeatedly.

For changing physical cash — say the euros or pounds you brought as a backup — head to an official bureau de change or a bank. Bureaux de change are licensed, display their buy and sell rates on a board, are quick, and typically charge little or no commission (always ask before handing over money). You'll find them clustered in tourist areas, airports, and main streets. Banks also exchange cash but tend to be slower with more paperwork, so I usually point guests to a reputable bureau for speed and a fair rate.

Now the rule I want to underline: do not change money at your hotel or riad. It's tempting for convenience, but hotel exchange desks consistently offer the poorest rates of anywhere — you can lose a meaningful chunk simply for the comfort of not walking 200 metres. Hotels are for sleeping; banks, bureaux and ATMs are for money. Likewise, the airport bureaux are fine in a pinch but their rates are a touch worse than a city-centre bureau, so change just enough at the airport to get going and do the rest in town.

Steer well clear of anyone approaching you in the street or souk offering to change money at a "special" or "better" rate. This is illegal, and it's a classic setup for short-changing, sleight-of-hand or fake notes. There's no upside that justifies the risk — official channels give you a transparent, posted rate and a receipt. Keep those receipts, by the way: you may need one to convert leftover dirhams back when you leave.

A few practical notes from experience: carry your passport when changing cash, as bureaux sometimes ask for ID; check whether the displayed rate is the buy or sell figure so you're not surprised; and count your money before walking away. Get into the simple habit of ATMs for daily dirhams and a trusted bureau for any cash swaps, and you'll always get a fair deal without a moment's worry.