MONEY AND TENDERS

The national currency in Madagascar is the ARIARY (MGA)
Notes are available in the following denominations: 

100, 200, 500, 1000, 2000, 5000 and 10000.    

         ^{100 Ariary}

^{200 Ariary}

^{500 Ariary} 

^{1000 Ariary}

^{2000 Ariary}

^{5000 Ariary}

^{10000 Ariary}

There are also coins in Madagascar:

1, 2, 4, 10, 20, 50 ARIARY, which are hardly in circulation because of their low value.

Madagascar does not have a decimal currency system.
The Malagasy Franc (FMG) was in circulation until 2004. Course for ARIARY 5:1.Many Malagasy people still count, speak and think about the old currency today

For example, if you want to buy a drink from a dealer somewhere for 4500 MGA, which is the equivalent of 1 euro, you may be told the FMG price. That's 22,500 FMG. If you give him 22,500 MGA, that's around €5. Not a good deal for you.

Tip: If in doubt, always ask whether the price is FMG or ARIARY.

Cash is often in short supply in Madagascar.In the interior of the country, some people still live like they did in the Middle Ages, cashless and by barter.It even happens that you cannot change a banknote of ARIARY 5,000 (equivalent to approx. € 1.12) in a post office.

Obtaining money from ATMs:

There are now more and more automated teller machines (ATM) in Madagascar. This of course makes holiday life easier for us tourists. Visa works well and almost everywhere, MasterCard sometimes only at BNI ATMs. The withdrawal amount varies, sometimes you only get 200,000 Ariary, sometimes 300,000 or 400,000.

Tip: Try a second time. (Fee for each credit card cash withdrawal is around 3% of the amount withdrawn, minimum € 3.63)

Paying with credit cards:

Card payments in stores are also increasingly being accepted.
Especially in tourist regions such as on the island of Nosy Be or in Antananarivo.
In travel agencies and agencies that offer tours as well. The large hotels are also accepting your credit card.
However, it can happen that the connection is not stable and a payment does not work.
If that happens when you leave your holiday destination and the hotel bill is outstanding, it can be unpleasant. Maybe it's better to pay as a precaution when you arrive or in advance, as is usual with various booking portals.

"Certainly we also take euros in our resort."

Cash transfer companies such as Money Gram or Western Union are widespread and are a way to receive money in a very short time. Of course, this is good to know in an emergency.

You can receive cash from home in just a few minutes. It now also works great online.However, it is relatively expensive.For example, for 100 euros you pay around 17.50 euros in transfer fees.
Bank opening hours:Mon - Fri 8 a.m. - 12 p.m. and 2 p.m. - 4 p.m. The largest banks in Madagascar are:

• BMOI Group BNP Paribas; BOA Bank of Africa; BFV-SG Societe General; BNI - CA Credite Agricole; Banky Foiben´i Madagasikara the Central Bank of Madagascar.
  
  Public holidays:
• January 1st (New Year); 
• March 29th (anniversary of the anti-colonial uprising in 1947);
  Easter Monday; 
• May 1st (Labor Day);
  Ascension of Christ; Whit Monday;
  June 26th (national holiday, day of independence from France in 1960);
  November 1st (All Saints Day); 
• December 25th (Christmas);
  December 31st (New Year's Eve)