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Bank, credit card, currency |
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After leaving the Franc Zone in 70 years, had created the Madagascar Malagasy Franc (MGF) still in force, after several devaluations historic, until recently. Since 1 January 2005, the country has opted for a return to its traditional currency, the Ariary (Ar), whose unit is equivalent to 5 MGs (5000 Fmg Ar = 1000).
Euro and $ U.S. Dollars are the currency used in Madagascar. Malagasy currency is not convertible, it is best to change as its needs from banks, exchange offices and hotels approved.
The banking sector in Madagascar is fully liberalized. The network that revolves around 7 commercial banks has 105 branches spread throughout the island. They open during the day continues from Monday to Friday (except eves of the feasts as they close their operations in the late morning!). ATMs are used by any person carrying a foreign credit card.
The Visa Card is the credit card accepted. Other cards like Master Card, Diner's, American Express are not widely used. It uses more than Travelers Checks in tourism and in everyday life.
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