The currency of Morocco is the Moroccan dirham, abbreviated as MAD. The dirham is subdivided into 100 centimes and is commonly used in daily transactions throughout the country. The currency has experienced fluctuations in value against other major currencies over the years and is regulated by Bank Al-Maghrib, the central bank of Morocco. When traveling to Morocco, it is wise to check the current exchange rates and consider exchanging currency at official exchanges to obtain a fair value, as many local establishments may not accept foreign currencies like the euro or US dollar.