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Currency
The pre-colonial Ariary (MGA; symbol Ar) has replaced the Malagasy Franc (MGF). Notes are in denominations of Ar10,000, 5,000, 2,000, 1,000, 500, 200 and 100. Coins are in denominations of Ar50, 20, 10, 5, 2 and 1.
Note: Malagasy Francs are no longer legal tender but can be exchanged at banks until 2009.
Note: Malagasy Francs are no longer legal tender but can be exchanged at banks until 2009.
Currency Exchange
Currency can be bought only at banks and official bureaux de change in hotels and at the airport in Antananarivo. Hotels have a less-favourable exchange rate. The Ariary is a non-convertible currency and cannot be exchanged back into tradable currency. Therefore it is a good idea to exchange currency as required.
Credit/Debit Cards and ATMs
American Express, Diners Club, MasterCard and Visa are accepted at top-end hotels in Tana and the provincial capitals. These and other cards have limited use elsewhere in the country. ATMs are increasingly available around the capital and in some of the larger towns.
Traveller's Cheques
These can be exchanged in banks and major hotels. To avoid additional exchange rate charges, travellers are advised to take traveller's cheques in Euros or US Dollars.
Currency Restrictions
Restrictions apply.
Banking Hours
Mon-Fri 0800-1100 and 1400-1600.
Exchange Rate Indicators
| Date | Jul 08 |
| £1.00= | Ar3,130.83 |
| $1.00= | Ar1,576.25 |
| €1.00= | Ar2,503.85 |