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 1||MGA 5||MGA 10||MGA 100||MGA 1,000|
|Australia||AUD 0.04||AUD 0.40||AUD 3.98||AUD 39.76||AUD 397.56|
|Canada||CAD 0.04||CAD 0.38||CAD 3.76||CAD 37.65||CAD 376.48|
|Ireland||EUR 0.02||EUR 0.25||EUR 2.50||EUR 24.98||EUR 249.79|
|New Zealand||NZD 0.04||NZD 0.42||NZD 4.23||NZD 42.28||NZD 422.78|
|South Africa||ZAR 0.40||ZAR 4.02||ZAR 40.17||ZAR 401.73||ZAR 4,017.31|
|United Kingdom||GBP 0.02||GBP 0.22||GBP 2.16||GBP 21.62||GBP 216.24|
|United States of America||USD 0.03||USD 0.28||USD 2.80||USD 27.96||USD 279.60|
Note: These currency exchange rates are not updated daily and should be used as a guideline only.
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.