The former currency Malagasy Franc (Franc Malgache) was replaced in 2005 by the Ariary (Ar-ee-ar) which is worth 5 Francs. For example, 10,000 Francs = 2000 Ariary. When negotiating a price, ALWAYS CONFIRM THE AMOUNT IN ARIARY. Many locals take advantage of tourists by simply stating the amount due without specifying the currency, so many tourists are duped into paying 5 times the actual amount due because of Franc/Ariary confusion.
Now in 2014, is this still a risk?
For each price, should I really ask the vendor whether it is franc or ariary?