Morocco Commerce

Currency

The form of currency used in Morocco is the Moroccan Dirham.

The currency conversion rate as of 6/4/2006:

10 Dirhams		=
		1.16 US Dollars
		.902 Euros
		1.55 Australian Dollars
		1.28 Canadian Dollars

The Dirham is made up of 100 centimes and all currency is issued by the Central Bank of Morocco (Bank al Magrib). You may find prices written in centimes rather than dirhams which can be referred to as francs or pesetas (mostly in former Spanish zones).

The Dirham is used all throughout Morocco including the Western Sahara.

Coins of 5, 10, 20, and 50 centimes and 1, 5 and 10 dirhams are in circulation.
Notes of 20, 50, 100, and 200 dirhams are in circulation.

Economy

Morocco faces many of the same problems as all developing third world countries, though in 2004 the country did sign a Free Trade Agreement with the United States allowing for 95% trade without tariffs. In addition, the Free Trade Agreement with the European Union (to take effect in 2010) will also bolster Morocco's import/exportation.

The largest segment is the service industry (43%), followed by industry (35.8%), and agriculture (21.2%)

Exports include clothing, fish, inorganic chemicals, transistors, crude minerals, fertilizers (including phosphates), petroleum products, fruits, and vegetables.

Imports include crude petroleum, textile fabric, telecommunications equipment, wheat, gas and electricity, transistors, and plastics.