is Moroccan currency a closed currency?

Moroccan dirham can only be purchased inside Morocco. It trades against European and English cuurencies, but not against New Zealand or Australian currencies or currencies of other smaller countries. The government sets the rate for exchange and it changes due to the pound going up or down against currencies.

It is an offence to take more than 1,000 dirhams out of Morocco. This is stated clearly on the immigration card you fill in before arriving in Morocco.

If you are carrying more than the equivalent of $10,000US into Morocco, it, too, must be declared before you enter Morocco. (Again on your immigration card.) The customs police ask you how much money you are taking out because you should have declared it, if it is a large amount, when you arrived.

Mostly the immigration doesn't worry about tourists, its Moroccans returning to Morocco.

If you go into a money exchange or a bank in England , you can be on the exchange board what the exchange rate is for that day.

It's not allowed to be taken out of the country so you can't buy it on the outside (except for a few coins)....the airport inspector asked to see my cash when I told him I didn't have any Moroccan money...don't know what that was all about but it only happened once. There is no use to trade it outside because it can't be spent anywhere but inside of Morocco.

Moroccan currency is NOT a fully convertible currency as of yet, so therefore it can only be purchased INSIDE of Morocco.

1 MAD = 0.117 $ ==> 1 $ = 8.502 MAD

1 MAD = 0.089 € ==> 1 € = 11.129 MAD

1 MAD = 0.079 £ ==> 1 £ = 13.727 MAD