Madagascar
The pre-colonial Ariary (MGA) has been reintroduced to replace the Malagasy Franc (MGF). Notes are in denominations of MGA10,000, 5000, 2000, 1000, 500, 200 and 100. Coins are in denominations of MGA 50, 20, 10 and 5. Malagasy Francs are no longer legal tender but can be exchanged at banks until 2009.
The import of local currency is limited to MGA1000. The export of local currency is prohibited to non-residents. The import and export of foreign currency is unlimited, subject to declaration.
Mon-Fri 0800-1100 and 1400-1600.
Malagasy Francs can be bought only at banks and official bureaux de change in hotels and at the airport in Antananarivo. Hotels have a less favorable exchange rate. A few ATMs have now been installed in Antananarivo. 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.
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. Check with your credit or debit card company for details of merchant acceptability and other services which may be available.
These can be exchanged in banks and major hotels. To avoid additional exchange rate charges, travelers are advised to take traveller's cheques in Euros or US Dollars.
