Living in a foreign country has its challenges. One of those is money – not only the lack of it but dealing with a foreign currency...
And here in Madagascar we deal with two, sometimes three ... It keeps us on our toes and is hilarious at times.
Again, some background: In the 1920s Madagascar gained the Malagasy Franc (FMG) as its currency – pegged to the French Franc. And it remained the official currency until 2005 when former president Marc Ravalomanana, trying to sever ties with the French, and open his country to the world, changed the currency to the Ariary. (Currently approx. 2000 Ariary = 1USD, while approx. 280 Ariary = 1 Rand.)
Here’s where it gets interesting. All products are marked in Ariary, but the majority of the population still thinks in FMG. The large notes are only in Ariary, while the smaller notes carry both the Ariary and FMG amounts. So, a typical scene at our local supermarket (which I see often) would go something like this:
Checkout lady: “That’ll be 24100 Ariary ($12), please”
Customer: “How much is that in FMG?”
Checkout lady: “120 500”
The customer then counts out the ARIARY, while doing the conversion to FMG in their heads! So, while removing a 10 000 Ariary note she would say to herself, "50 000" and so on until reaching the amount owed...
Taxis, roadside vendors, kids at school, indeed the majority of all trade here is quoted in FMG, but one always has to check. So, when buying tomatoes, if the lady says “1500”, then you ask, "FMG, or Ariary"? FMG being the answer, you hand over a 500 Ariary note. When I first arrived here, and before I understood this concept, I was most put-out when I was told to pay “1000” for a short bus ride. When I showed my ire, all the passengers burst out laughing and explained that I'd been quoted the FMG price, that it was only 200 Ariary, and that the vazaha wasn’t being picked on!
And then, every now and then, one has to make payments in dollars too, like for airplane tickets or credit card purchases! Recently I had to register several students for their SAT exams (in dollars). I paid with my South African credit card, did the dollar conversion to Rands, then to Ariary, and finally into FMG to tell them what they owed... How the head swims!
Fortunately, when I was growing up, calculators were a luxury and my dad always stressed the importance of doing sums in my head. Thanks dad - without your wisdom way back when, I'd be lost!