Currency: Madagascar

The national currency of Madagascar since December 2004 is the “Ariary”, replacing the old currency “Malagasy Franc (Fmg)”. When buying something in Madagascar specifically ask the sales person if they are charging you in the old Malagasy Francs or the new Ariary as the exchange rates differ. If you’re not careful of the Madagascar exchange rate you could end up paying more! A 10 000 Ariary note is approximately 4 Euros, 1€ = around AR 2500.
You can only obtain Ariary while in Madagascar so travellers are advised to change their currency according to their needs. The best currency rates in Madagascar come from bureau de change offices located in Ivato airport. You will normally receive a better exchange rate for Euros than Pound Sterling. On arrival at Antananarivo - Ivato airport steer clear of people who approach you to exchange your currency. They will propose a more attractive rate than the change offices but more often than not they are scams, which leave you with less money.Make sure you carry lots of smaller currency denominations for your everyday purchases, as people won’t always have change (especially in more remote areas).

Source: www.gassitours.com