Comparison•Updated 2026
Which Bank Offers the Best Exchange Rate in Morocco? (2026)
CIH, Banque Populaire, Attijariwafa, BMCE... All Moroccan banks offer currency exchange, but which one has the best rate? And more importantly: should you go to a bank or an exchange bureau?
🏦 Complete Comparison of Moroccan Banks
Here is a comparison based on the average spread observed for EUR/MAD cash exchange:
| Bank | Average Spread | Notes |
|---|---|---|
| CIH Bank | 2.0 — 3.0% | Often the most competitive |
| Attijariwafa Bank | 2.5 — 3.0% | Largest bank, average rates |
| Banque Populaire | 2.5 — 3.5% | Widest branch network |
| BMCE Bank of Africa | 2.5 — 3.5% | International presence |
| City Exchange Bureau | 0.5 — 1.5% | ⭐ Best value for cash |
💡 The Verdict
Regardless of the bank, an authorized city exchange bureau will always offer a better rate for physical cash. The average difference is an equivalent of a good restaurant meal for a €1000 exchange.
❓ Why are Banks More Expensive?
- High overhead costs: Rent, large staff, and strict compliance are factored into the spread.
- Fixed daily rates: Banks fix their exchange rate in the morning and do not adjust it with the market during the day.
- Lack of incentives: Bank customers exchange money out of convenience, reducing the bank's need to remain highly competitive on margins.
🏪 When to Actually Use a Bank
Banks are still useful for:
- International SWIFT/SEPA transfers.
- Very large amounts (>€10,000) where you can negotiate directly with a manager.
- Needing highly specific official tax documentation.