Morocco FX Analytics · FX access cost
How much does foreign exchange cost? At the counter: banknote premium and buy-sell spread. At the bank: FX margin on international transfers.
Retail (cash) rates · buy / sell · frozen at the selected date
(banknote sell rate − reference rate) / reference rate · in %
as % of the rate · the wider the spread, the more expensive cash exchange is
The FX margin is the spread between the rate charged by an intermediary (bank or payment institution) and the reference rate set daily by Bank Al-Maghrib (BAM). It reflects the cost of foreign exchange for the end customer. A wider margin means a higher cost; a tighter margin means more competition. Two channels are compared: banknotes (cash exchange, wider margins) and transfers (interbank, tighter margins). The margin is computed as: (bank mid − BAM mid) / BAM mid × 100.
Latest available rates by currency · margin = bank mid spread vs BAM mid
Margin difference between banks on banknotes. Indicative amount on a 10,000-unit transaction.
The spread is real but modest in absolute value. On EUR 10,000 exchanged, the difference between the two banks amounts to a few dozen dirhams — a cost that may matter for frequent travelers or businesses, but is marginal on a one-off transaction.
Banknotes — spread = (sell − buy) / buy. Comparison between banks.
The wider the spread, the higher the bank's margin on that currency.
Bank mid (transfers) vs BAM reference rate · one line per bank
Margin = (bank transfer mid − BAM mid) / BAM mid × 100. A positive figure means the bank sells higher / buys lower than the official rate. The margin varies by currency and over time.