Where can I find currency exchange offices in Madagascar?

Hi, Can you tell me if it's possible to exchange money in cities other than the capital or some domestic airports, and should I prioritize banks or exchange shops? Thanks in advance

hi there, you can exchange money in all the cities in Madagascar, but watch out for the sometimes unpredictable opening hours. There are ATMs in most cities in Madagascar, but always exchange a maximum amount at the ATM or, better yet, during bank opening hours to get Malagasy currency (ariary) with your international debit/credit card for larger sums than at the ATM (often capped at 400,000 AR, which is about 80 €). There’s also the "black market" exchange, but you really need to know the person well!! cheers,

Thanks Astafford. I saw that there aren’t ATMs in every city, but you said there are exchange offices in all of them. Does that mean lots of shops do it—that’s right? Thanks

Hi again, No shops, but if you know some "karana" (Indians for Malagasy people), they do it, especially in the northwest, but it's often not very advantageous. Apart from Tana, where you can exchange on the "black" market if you know someone; it's in the banks for the exchange. Or in big cities, there are a few big merchants who do it when they need "vola" (money in Malagasy), but it's very hit-or-miss. If it's your first trip to Madagascar, I'd recommend sticking to banks—do it in several places since the exchange rate and fees vary between banks!!!

Hi! Nowadays, with 20,000 AR notes, ATMs dispense 40 bills, which comes to 800,000 Ar, and you can make one or two consecutive withdrawals! After 22 trips, I recommend using ATMs unless, like one of my buddies, you come to Madagascar with cash you’ve earned under the table—but watch out for the maximum amount allowed at entry and for street exchanges with stacks of 9 bills, one of which is fake! 😉

Thanks for your replies. My bank charges fees, which is why I’d like to exchange money at exchange bureaus if possible—but only at official ones. Thanks

hi, as far as I know, the only exchange bureaus in Madagascar are banks or the "black market" in Tana, as I explained

OK, thanks

Hi! Withdrawing from ATMs means you don’t have to walk around with a lot of cash that you don’t know where to hide. For example, for a 100 € bill or two 50 € bills, you end up with a stack of 25 x 20,000 Ar notes, and for 1,000 €, that’s 250 bills—about 3 cm thick (I just measured; I still have 700,000 Ar left from my trip at the end of 2024, which I’m keeping for late 2025)!

Little anecdote: In April 2009, during my second tourist trip, since there were few ATMs outside Tana, I brought cash in euros to exchange at the Ivato office because I was heading to Antalaha afterward! So, I handed over 1,000 € in bills to the exchange agent, who gave me a paper I barely read before signing. Then, he placed a stack on the counter—560 x 5,000 Ar bills—apologizing for not having any 10,000 Ar notes (exchange rate at the time and fees were around 2,800 Ar/€, with a max bill of 10,000 Ar). I walked around with that for a few days! 😉