The official currency is the Malagasy Ariary (MGA), which has been reintroduced to replace the Malagasy Franc. Coins and notes display both currencies, but newer notes display the Ariary more prominently than the Franc. One Ariary is equal to five Francs. Foreign currencies can be exchanged at banks and official bureaux de change, but the Ariary cannot be changed back into hard currency. Some banks will only accept US Dollars or Euros. ATMs are available in Antananarivo. Most major credit cards are starting to be accepted in top hotels and major travel agencies in the capital and other major towns, but have limited usage elsewhere.
Currency Exchange Rates
|Madagascar||MGA 100||MGA 1,000||MGA 10,000||MGA 100,000||MGA 1,000,000|
|Australia||AUD 0.04||AUD 0.44||AUD 4.36||AUD 43.59||AUD 435.90|
|Canada||CAD 0.04||CAD 0.43||CAD 4.31||CAD 43.09||CAD 430.94|
|Ireland||EUR 0.03||EUR 0.28||EUR 2.80||EUR 28.02||EUR 280.16|
|New Zealand||NZD 0.05||NZD 0.46||NZD 4.65||NZD 46.50||NZD 464.98|
|South Africa||ZAR 0.51||ZAR 5.10||ZAR 51.03||ZAR 510.29||ZAR 5,102.92|
|United Kingdom||GBP 0.02||GBP 0.21||GBP 2.10||GBP 21.01||GBP 210.07|
|United States of America||USD 0.03||USD 0.30||USD 3.04||USD 30.42||USD 304.23|
Note: These currency exchange rates are not updated daily and should be used as a guideline only.
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