The money
You should bring the money (€, $) for your trip, in cash. Paying with credit cards works almost exclusively in Tana. Cash withdrawals work with VISA Cards at Socimad at the airport and at the BFV and with MasterCards at the BTM in town
Meanwhile cash machines have been set up by the bank BMOI, where money is available against VISA card + secret code. You find these on Place de l'Independance, in the Hilton Hotel and in the super markets Score Digue and CORA and in the bank BMOI in Tamatave. There is a cash machine now at the airport
Two banks and the private money changer SociMad are open upon arrival of international flights at the airport Ivato. 50 € bills and above give you the best exchange rate. $-bills should better be new ones. He makes cash payments against VISA-card as well, provided the card is recognized as good. However recently people were unable to get cash adavances against MasterCard at the airport. Even cashing traveller cheques these days causes problems, pieces in 100 were refused, the purchase proof has to be presented and you may even have to go into town to get money in a bank. Especially people arriving on or just before the weekend should carefully consider the situation, which can easily lead to time consuming trouble shooting. Amounts of up top 400.000 Ariary can now be im- and exported. Amounts from 7500 € upward have to be declared upon arrival.
The currency on Madagascar is called Ariary. 1 Ariary is worth 5 FMG (Franc Malagasy). The FMG has never been fully accepted on the village level. With the arrival of the € (in the € zone), the new government regards the FMG as displaced. So, since 31.7.2003, the Central Bank is issuing news bills. The new 10.000 Ariary, 5000 Ariary and 2000 Ariary are circulating, while the former FMG notes with the same value will remain in circulation until 30.11.2004. The new notes carry their value in FMG in small print.
End of 2004, the following bills are beeing introduced: 100, 200, 500 and 1000 Ariary, valued respectivly at 500, 1000, 2500 and 5000 FMG. The former bills of the same value will remain in circulation.
There are coins for 1, 5, 10, 20 FMG, and for 5, 10, 20 and 50 Ariary.
From January 1st, 2005 onward, only Ariary's are used. But even in 2011, your hear many people quoting rates in FMG.
Here you can check the daily rate of the Ariary.
On this map you can find places with BNI cash machines, here are those from BFV.
On this page presented by the Central Bank of Madagscar, you can have a look at currently used bills.