https://travel-to-madagascar.blogspot.com/2011/10/money-exchange-for-madagascar-services.html
Money Exchange for Madagascar -Services - Money
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Currency information:
Currency can be bought only at banks and official bureaux de change in hotels and at the airport in Antananarivo. Exchange rates in hotels are less-favourable than other outlets. The Ariary is non-convertible and cannot be exchanged back into tradable currency. Changing small amounts, as required, is therefore advisable.
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 accepted.
Credit cards:
American Express, Diners Club, MasterCard and Visa are accepted at top-end hotels in Tana and the provincial capitals. However, outside of the main cities cash is king.
ATM:
ATMs can be found in and around the capital and in some of the larger towns.
Travellers cheques:
These can be exchanged in banks and major hotels. Traveller's cheques in Euros or US Dollars are advisable to avoid additional exchange rate charges.
Banking hours:
Mon-Fri 0800-1100 and 1400-1600.
Currency restriction:
There are no restrictions on the import or export of local or foreign currency.
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.
