The national currency is since January 2005 the Ariary, replacing the old currency which was the Malagasy Franc. All the new notes denominated in Ariary still include to date the conversion into Malagasy francs (the Malagasy Franc at a value five times higher than the Ariary).
The existing parts are used in the Malagasy economy but you will not be able to acquire much with them. The most commonly used tickets are 100 Ariary, 200 Ariary, 500 Ariary, 1,000 Ariary, 2,000 Ariary, 5,000 Ariary and 10,000 Ariary.
At weighted average price 2016, 1 euro is worth about 3500 Ariary
A ticket of 10,000 Ariary is worth approximately 3.20 euros.
It is prudent to always ask your interlocutor if he speaks Ariary or Francs Malgaches to avoid confusion. Euros are accepted in hotels but rarely in merchants.
If you travel, always keep small bills for your daily purchases because people rarely have the “money”.
The tip is appreciated by all, but you will have to use it according to your level of satisfaction in the field of the races, guarding, services restaurant, etc.
Upon your arrival at the airport, money changers will offer you to convert your euros to a more interesting exchange rate than to the bank. This reprehensible practice but nevertheless quite widespread can only put you in the illegality on your arrival.
In addition, highly specialized teams in this technique take advantage of your lack of habit and the confusion between the old and the new currency to not give you the account. Exchange offices or the traditional banking network will avoid you big worries on your arrival.
CB is accepted but limited use, can withdraw currencies with a VISA credit card from banks in Nosy Be (mainly BFV-SG and BNI-CL). Hotels and merchants are still poorly equipped to accept credit cards.
When you arrive in Madagascar, you will be asked to declare, if necessary, any amount in currencies above 8,000 Euros.