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 Euro. 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||A$ 0.04||A$ 0.42||A$ 4.23||A$ 42.26||A$ 422.56|
|Canada||C$ 0.04||C$ 0.43||C$ 4.28||C$ 42.83||C$ 428.29|
|Ireland||€ 0.03||€ 0.29||€ 2.93||€ 29.33||€ 293.30|
|New Zealand||NZ$ 0.05||NZ$ 0.46||NZ$ 4.62||NZ$ 46.25||NZ$ 462.50|
|South Africa||R 0.42||R 4.20||R 42.02||R 420.16||R 4,201.60|
|United Kingdom||£ 0.02||£ 0.23||£ 2.32||£ 23.25||£ 232.47|
|United States of America||US$ 0.04||US$ 0.39||US$ 3.93||US$ 39.27||US$ 392.75|
Note: These currency exchange rates are not updated daily and should be used as a guideline only.
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