Conversion and Transfer Policies
The Moroccan dirham is convertible for foreign investors for all current-account and selected capital-account transactions. Particularly, capital-account repatriation transactions are convertible if the original investment is registered with the foreign exchange office. Morocco's foreign exchange law enables expatriate employees to repatriate their entire salaries.
Foreign exchange is readily available through commercial banks for the following activities without prior government approval: Remittances by foreign residents; repatriation of dividends and capital by foreign investors; and payment for foreign technical assistance, royalties and licenses.
The current exchange-rate regime is a tightly managed float against a euro-dominated basket of currencies. The Moroccan dirham thus tends to move in line with the Euro. It fluctuated between 8 and 9 MAD to the dollar in 2010, with an average exchange rate for the year of 8.42 MAD to the dollar.