Currency – Exchange in Madagascar – MGA (Malagasy Ariary)

Currency – Exchange in Madagascar – MGA (Malagasy Ariary)

The Central Bank of Madagascarhttp://www.banque-centrale.mg – displays daily rates currencies in Ariary. The Euro – € – EUR and the Dollar – $ – USD are the most widely used currencies in Madagascar and are presented as the currencies of reference. However, the exchange rates of other main currencies are also displayed, including:
GBP – Pound Sterling – Pound Gibraltar | CHF – Swiss Franc | JPY – Japanese Yen | CAD – Canadian Dollar | DKK – Danish Krone | NOK – Norwegian Crown | SEK – Swedish Krona | DJF – Franc of Djibouti | MUR – Mauritian Rupee | ZAR – Rand South Africa | AUD – Australian Dollar | HKD – Hong Kong Dollar | SGD – Singapore Dollar | NZD – New Zealand Dollar | INR – Indian Rupee | CNY – Yuan Renmimbi – China

Primary banks are the main exchange points, but there are a number of exchange offices approved by the central bank that could be found in major cities of Madagascar and in airports – including the International Airport of Ivato – TNR.
The primary bank are: BOA (Bank of Africa) – BFV SG (Société Générale) – BMOI BPCE (Malagasy Bank of the Indian Ocean) – BNI Madagascar (Crédit Agricole) – MCB Madagascar – SBM Banque

There are also banks specializing in microfinance which also offer the exchange service like Access Bank, Microcred Bank, Sipem Bank, …

These banks all have ATMs – in Ariary – local currency only – covering the whole island, in major cities – The amount of withdrawal is limited and exchange rates are generally lower compared to those Exchange offices. TPE is still very rare. MasterCard and VISA are only accepted.


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