Madagascar - money - Countries Guide

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. Travellers cheques can be exchanged at most banks and in major hotels, but some banks refuse to accept them. 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.