Closed and restricted African currencies
What “closed currency” actually means
A closed currency is one that is not traded freely on international markets. In practice that means three things for a traveller: you generally cannot buy it at home before you fly, there are limits on how much you may carry across the border, and leftover notes can be hard or impossible to convert once you have left.
This is separate from being pegged. A currency can be pegged and freely traded, or floating and tightly restricted. The CFA francs are pegged but exportable in limited amounts; the Moroccan dirham floats within a band but is closed.
African currencies commonly treated as closed or restricted
🇲🇦 Moroccan dirham (MAD)
The best-known example. Not sold by most foreign exchange bureaus abroad, with limits on export. Exchange on arrival, keep your receipts, and convert dirhams back before departing — airport bureaus normally require proof of the original exchange. Moroccan dirham guide →
🇹🇳 Tunisian dinar (TND)
Closed in the same way as the dirham, and rarely obtainable outside Tunisia. Export of dinars is restricted and reconversion at departure typically requires exchange receipts. Tunisian dinar guide →
🇱🇾 Libyan dinar (LYD)
Heavily restricted, with a wide gap between the official rate and what is available informally. Banking access is limited and the practical rate a visitor gets may differ substantially from any published figure. Libyan dinar guide →
🇩🇿 Algerian dinar (DZD)
Subject to strict exchange controls with a long-standing parallel market. The official rate and the rate available informally can differ considerably. Export of dinars is restricted. Algerian dinar guide →
🇪🇹 Ethiopian birr (ETB)
Historically tightly controlled with limited foreign-currency availability. Ethiopia has moved toward a more market-determined rate in recent years, but restrictions on taking birr out of the country remain the norm. Ethiopian birr guide →
🇪🇷 Eritrean nakfa (ERN)
Among the most restricted currencies anywhere, with severe limits on foreign exchange access and on moving nakfa across the border. Eritrean nakfa guide →
Currency rules change, sometimes at short notice, and enforcement varies. Treat this as orientation rather than legal advice, and check your destination’s current central bank or customs guidance before travelling.
What to do about it
Bring a widely accepted currency to exchange
Euros work well across North Africa; US dollars are the safer default in East and Southern Africa. Crisp, recent, large-denomination notes get better rates — worn or old bills are often refused outright.
Keep every exchange receipt
In countries with closed currencies, converting local money back at the airport usually requires proof that you exchanged it officially in the first place. Without receipts you may be stuck with unusable notes.
Do not over-exchange near the end of a trip
Because reconversion is restricted and often capped, the practical rule is to exchange in smaller amounts as you go rather than converting a large sum on arrival.
Be wary of the parallel market
Where official and street rates diverge sharply, changing money informally is common but carries real legal and safety risk, and the reference rates published here and by services like XE reflect official quotations only.
Frequently Asked Questions
Can I buy Moroccan dirhams before I travel?
Generally no. The dirham is a closed currency that most foreign exchange bureaus do not stock, so travellers normally exchange euros or dollars after arriving in Morocco.
Which African currencies cannot be taken out of the country?
The Moroccan dirham, Tunisian dinar, Libyan dinar, Algerian dinar, Ethiopian birr and Eritrean nakfa are all commonly subject to export restrictions. Limits and enforcement vary and change over time.
What is the difference between a closed currency and a pegged currency?
A peg fixes the exchange rate; a closed currency restricts trading and movement across borders. A currency can be one, both or neither — the CFA francs are pegged but not closed, the Moroccan dirham is closed but not pegged.
Why do I need to keep exchange receipts?
In countries with closed currencies, airport bureaus usually require proof of your original exchange before converting local notes back, and may cap how much you can reconvert.
Should I use the street exchange rate?
Where official and parallel rates diverge, informal exchange is common but carries legal and safety risk. Rates shown on this site are official reference quotations, not street rates.