Ghana 
Kenya 
Nigeria 
Uganda 
Europe 
Austria 
Belgium 
Bulgaria 
Croatia 
Cyprus 
Czech Republic 
Denmark 
Estonia 
Finland 
France 
Germany 
Greece 
Hungary 
Iceland 
Ireland 
Italy 
Latvia 
Lithuania 
Luxembourg 
Malta 
Monaco 
Netherlands 
Norway 
Poland 
Portugal 
Romania 
San Marino 
Slovakia 
Slovenia 
Spain 
Sweden 
Switzerland 
Turkey 
United Kingdom 
Argentina 
Brazil 
Canada 
Chile 
Colombia 
Dominican Republic 
Guatemala 
Mexico 
Peru 
Uruguay What is an FCNR Deposit? A complete guide for NRIs
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MGA - Malagasy Ariary currency
Madagascar
The Malagasy Ariary (MGA) is the currency of Madagascar and is unique in being one of the few non-decimal currencies in the world. One Ariary is subdivided into five iraimbilanja rather than 100 smaller units. Introduced in 1961 to replace the Malagasy franc, the ariary became the country’s sole legal tender in 2005. The Central Bank of Madagascar manages the issuance of banknotes and coins, with denominations ranging from small coins to high-value banknotes. The Ariary is primarily used within Madagascar, with limited exchangeability outside the country. Due to economic fluctuations, the exchange rate of the ariary can be volatile, impacting import-dependent sectors of Madagascar’s economy.
MGA - Malagasy Ariary profile
Symbol
Ar
ISO 4217 Code
MGA
Central Bank
Central Bank of Madagascar
Nicknames
Ariary
Countries using this currency
Madagascar
MGA - Malagasy Ariary live currency rates
| Currency | Rate | Change |
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| MYR / INR | ||
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Last updated: Exchange rates here are informational, reflecting mid-market rates which fluctuate regularly. For an estimation of the rates offered by Instarem, please check our currency conversion calculator at the time of transfer.
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