How to send money to Madagascar in 2026: in ariary, to a currency account and to a supplier
The ariary floats, so a transfer to Madagascar is credited at the day's rate: on 9 October 2026 that is about 4,470 ariary per dollar. A foreigner who does not live on the island keeps money in a currency account, and a vanilla supplier is paid in foreign currency and sells 70% of the proceeds on the local currency market within 30 days.
In short
- The rate on 9 October 2026 is 4,470 ariary per dollar.
- A non-resident's currency account is topped up by transfers from abroad.
- An exporter sells 70% of proceeds within 30 days.
- A plot for a foreigner is leased for up to 99 years.
In detail
Sending money to Madagascar on 9 October 2026: in ariary, to a currency account, to a phone
On 9 October 2026 money reaches Madagascar by bank transfer in ariary or to a currency account in 1-3 business days, through money transfer services and to a mobile wallet by phone number. On that day a dollar is worth 4,470 ariary: the rate is set on the interbank currency market and changes every day.
| Route | Now | Credited in | Time | What you need |
|---|---|---|---|---|
| Bank transfer to an ariary account | works | ariary at the day's rate | 1-3 business days | account number, the bank's international code, the recipient's name |
| Transfer to a non-resident currency account | works | euros or US dollars | 1-3 business days | a currency account at a Madagascar bank |
| Paying a supplier under a contract | works | euros or US dollars | 1-3 business days | the contract and the exporter's account at a local bank |
| Transfer to a mobile wallet | works | ariary | from a few minutes | the recipient's phone number |
Is the sending bank taking a long time to check a payment to Antananarivo? There are usually more options than it seems: tell a manager who you are sending to and why, and they will choose a route.
Ariary or a currency account: what to keep your money in on Madagascar
1996 is the year from which Madagascar has freely made current payments with other countries, and the foreign exchange code has been in force since 2006. Island residents receive transfers in ariary at the day's rate, while currency accounts at banks are opened by exporters, tourism companies, exchange offices and non-residents.
A foreigner who does not live on Madagascar keeps euros or dollars in a currency account: the account is topped up by transfers from abroad in freely convertible currency, and ariary are not credited to it. For costs on the island the money is exchanged into ariary in parts, and the balance in foreign currency does not lose value along with the ariary.
Transfers between the currency accounts of two non-residents within the country also go through freely. So that the money arrives in the right currency, we will suggest the best way to send it to Madagascar. More about the capital is on the Antananarivo page.
We will help you send money to Madagascar
Mistakes cost more than fees: paying a supplier to an account outside the island without a contract, exchanging all your reserve into ariary, a contribution to a company's capital without Ministry of Finance approval. We will help you avoid them: we will choose the route and timing, prepare the source-of-funds documents for the bank and carry out the transfer through to crediting.
Details and terms are with a manager in the chat: the cost depends on the sum and the purpose of the transfer.
Paying for vanilla and other goods from Madagascar: how a supplier is paid
An exporter on Madagascar sells 70% of its foreign currency proceeds on the domestic currency market no later than 30 days after receiving them: the government set this by a 2022 decree. The island is the world's main supplier of vanilla, and the rule matters to the buyer: payment under the contract is sent in euros or dollars to the exporter's account at a Madagascar bank.
The exporter sells an advance payment under the contract in the same share and within the same period, and the bank records the repatriation of the proceeds in a shared accounting system. The same rules apply to tourism income, including bookings through foreign websites, so the island's hotels and tour companies accept payment in foreign currency to their account at a local bank.
For a large purchase the contract and the supplier's invoice are attached to the payment, and the contract number is given in the payment purpose. If the sum is for a long project, a manager will work out how to split it into parts by delivery stage.
Documents for a Madagascar bank by amount
- Up to $10,000. The recipient's bank checks the name, the account or phone number and the reason: family support, studies, a trip.
- $10,000-100,000. You will need the sender's account statement and a contract: a villa lease, a supply contract, a tour booking.
- From $100,000. The bank examines the source of the money and the contract, and an investment in the capital of a local company goes through approval with the Ministry of Finance. For such a sum a manager will help you gather the documents.
A foreigner takes a plot for a house or a villa by the ocean on a long-term lease of up to 99 years under the 2023 investment law, and the rent is transferred under the contract. Which papers on the money the bank expects is described in proof of source of funds, and a large payment in sending large sums abroad. If all your capital is moving to the island, see the capital relocation page.
Sending money to nearby countries
- How to send money to Mauritius: the neighbouring island with a financial centre
- How to send money to France: home to most of the island's community abroad
- How to send money to Comoros: euros and francs to family on the islands
- How to send money to Seychelles: islands of the Indian Ocean
Moving together with your savings is covered on the capital relocation page.
FAQ
Can a non-resident hold a currency account on Madagascar?
What share of proceeds does an exporter on Madagascar sell on the currency market?
How long does a lease of a villa plot on Madagascar last?
Can ariary be credited to a currency account on Madagascar?
We will suggest the best way to send your money
We will choose a transfer method for your amount and country, prepare the documents on the origin of the money for the bank, make the transfer through licensed partners and follow it until the money is credited. Ask your question in the chat - the manager will suggest the best terms and the cost. The legal side with banks and government bodies is handled by Murblz specialists and locally licensed partners.
Details and cost are with the manager in the chat. Describe your situation and we will reply right away.
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