Madagascar Currency


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 0.43 AUD 4.26 AUD 42.62 AUD 426.25
Canada CAD 0.04 CAD 0.41 CAD 4.05 CAD 40.52 CAD 405.17
Ireland EUR 0.03 EUR 0.27 EUR 2.75 EUR 27.48 EUR 274.83
New Zealand NZD 0.05 NZD 0.46 NZD 4.63 NZD 46.34 NZD 463.44
South Africa ZAR 0.48 ZAR 4.75 ZAR 47.51 ZAR 475.09 ZAR 4,750.92
United Kingdom GBP 0.02 GBP 0.22 GBP 2.17 GBP 21.68 GBP 216.81
United States of America USD 0.03 USD 0.31 USD 3.13 USD 31.28 USD 312.77

Note: These currency exchange rates are not updated daily and should be used as a guideline only.

Become our Madagascar Travel Expert

We are looking for contributors for our Madagascar travel guide. If you are a local, a regular traveller to Madagascar or a travel professional with time to contribute and answer occasional forum questions, please contact us.

Intrepid Travel

Intrepid Travel is one of the world's leading suppliers of small group adventures focused on getting off the beaten track and having real life experiences in Madagascar.