MGA - Malagasy Ariary currency

Madagascar flag 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 -
Countries using this currency Madagascar

MGA - Malagasy Ariary
live currency rates

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.

Our latest articles

How to buy gold online?
Money know-how

How to buy gold online?

Gold has long been regarded as a timeless investment, especially during periods of economic uncertainty…

Cost of living in Indonesia – single, family & student
Career

Cost of living in Indonesia – single, family & student

The monthly cost of living in Indonesia for an individual is IDR 7,394,740…

Jobs in Indonesia: Leading companies hiring right now
Career

Jobs in Indonesia: Leading companies hiring right now

Seeking lucrative jobs in Indonesia for Indian professionals? Here is everything you need to know…

What is the Indonesian code number?
Expat life

What is the Indonesian code number?

Are you trying to make an international call to Indonesia but having trouble getting through…

 How to buy USDT (Crypto)?
Money know-how

 How to buy USDT (Crypto)?

Are you planning to get into crypto? USDT (Tether) is a popular stablecoin pegged to…

From high fees to high touch: How TRUVI transformed global payments with Instarem 
Customer stories

From high fees to high touch: How TRUVI transformed global payments with Instarem 

The company TRUVI is a premier luxury travel and lifestyle concierge company specializing in personalized…

How to transfer a large amount of money with ING AU in 2025
Money know-how Remittance

How to transfer a large amount of money with ING AU in 2025

Transferring large sums domestically can be straightforward with ING Australia, thanks to flexible transfer limits…

How to transfer a large amount of money with Citibank AU in 2025
Money know-how Remittance

How to transfer a large amount of money with Citibank AU in 2025

Sending large amounts of money across borders can be complex, but Citibank Australia makes it…

How to transfer a large amount of money with HSBC AU in 2025
Money know-how Remittance

How to transfer a large amount of money with HSBC AU in 2025

​ Sending large amounts of money across borders can be complex, but HSBC Australia makes it…

How to transfer a large amount of money with CommBank in 2025
Money know-how Remittance

How to transfer a large amount of money with CommBank in 2025

​Sending large amounts of money across borders can be complex, but Commonwealth Bank of Australia…

Disclaimer: All information in this article is provided for general knowledge and educational use only. It should not be considered legal, tax, or financial advice. We recommend contacting a licensed expert in your area for assistance with specific concerns.

close icon
Select location
Australia flag
Australia
Austria flag
Austria
Canada flag
Canada
France flag
France
Germany flag
Germany
Hong Kong flag
Hong Kong
India flag
India
Indonesia flag
Indonesia
Ireland flag
Ireland
Japan flag
Japan
Malaysia flag
Malaysia
Netherlands flag
Netherlands
Singapore flag
Singapore
United Kingdom flag
United Kingdom
United States of America flag
United States of America
close icon
Select a language
English (EN)
close icon

Change location and language

You are on our Global website. Select below to change to another location.

Save changes