Malagasy Ariary Currency and Exchange Rates Explained

The Malagasy ariary is the official currency of Madagascar, and it's essential to understand how it works if you're planning a trip to this beautiful island nation. The ariary is divided into 5 subunits called iraimbilanja.

In Madagascar, you can exchange your money for ariary at a bank, currency exchange office, or a hotel. However, be aware that exchange rates may vary depending on the location and the institution.

The ariary has undergone several changes in its exchange rate over the years, with the most significant one being its introduction in 2005, replacing the Malagasy franc.

On a similar theme: Convertisseur Ariary Euro

The Malagasy ariary has a fascinating history. It was introduced in 1961, replacing the Malagasy franc at a rate of 1 ariary to 5 francs.

The ariary coexisted with the franc for many years, with coins and banknotes denominated in both currencies. However, by 1978, the ariary had become more valued than the franc.

If this caught your attention, see: Rwanda Franc to Usd

New banknotes were introduced in 1993, featuring the ariary prominently, which further solidified its position as the preferred currency. The ariary officially replaced the franc as the official currency of Madagascar on January 1, 2005.

The ariary has a rich history that's worth exploring. Introduced in 1961, it replaced the Malagasy Franc at a rate of 1 Ariary = 5 Francs.

Initially, both Francs and Ariary were used on coins and banknotes, with the Franc being more prominent. However, by 1978, the Ariary gained more value.

New banknotes were released in 1993, featuring higher denominations in Ariary, such as the 500 and 5,000 Ariary notes. This marked a significant shift towards the Ariary.

By 2003, both Ariary and Franc banknotes were released with prominent denominations, but with fewer Franc notes printed. Lower denomination Ariary coins were also introduced that year.

On January 1, 2005, the Ariary officially replaced the Franc as the currency of Madagascar, marking a new era for the country's economy.

You might enjoy: 1 Usd Qatari Riyal

Here's a brief timeline of the Ariary's introduction and evolution:

The Malagasy Ariary is the official currency of Madagascar, which is an interesting fact in itself.

The Ariary is one of only two circulating currencies in the world whose division units are not based on a power of ten.

The names Ariary is derived from the pre-colonial currency, which is a silver dollar.

One Malagasy Franc is equal to 0.2 Ariary, making it a unique conversion rate.

Intriguing read: One Thousand Peso Bill Philippines

The ariary currency is a fascinating aspect of Malagasy finance. Coins have been issued in various denominations since 1965, with the first being 1 franc (1 iraimbilanja) and 2 francs (venty sy kirobo).

The term "venty sy kirobo" has a unique history, derived from names used in the 19th century for fractions of a silver dollar. This term is used for a 2 franc coin.

Coins in circulation include the 1⁄5 ariary, 2⁄5 ariary, 1 ariary, 2 ariary, 4 ariary, 5 ariary, 10 ariary, 20 ariary, 50 ariary, and others. Here's a list of the denominations and their values in Malagasy francs (MGF):

Coins are an essential part of the Ariary currency, and they've undergone some interesting changes over the years. The first coins issued in 1965 were 1 franc (1 iraimbilanja) and 2 francs (venty sy kirobo).

In 1966, 5 francs (1 ariary) coins were introduced, and in 1970, 10 and 20 francs (2 and 4 ariary) coins were issued. The term "venty sy kirobo" actually comes from 19th-century names for fractions of a silver dollar or 5 francs piece.

The name "venty sy kirobo" is derived from the fact that 1/6 + 1/4 of a 5 franc piece is approximately 2 francs. This is a clever play on words that highlights the coin's value.

The most prominent coins in circulation are listed below. We'll take a closer look at the different denominations and their values.

The Malagasy ariary currency has a rich history of banknotes, with the first ones introduced in 1961 by the Institut d'Émission Malgache in denominations of 50, 100, 500, 1000, and 5000 francs.

These notes were overprints on earlier notes, with the denomination in ariary included in the overprint. Regular banknotes in the same denominations followed between 1963 and 1969.

In 1974, new notes were issued in the same denominations as had been used earlier, but with the Banky Foiben’ny Repoblika Malagasy taking over the functions of the Institut d’Émission Malgache.

The country's name change to the Repoblica Demokratika Malagasy in 1975 led to a new series of notes, which included 10,000 francs (2000 ariary) notes but did not include 50 or 100 francs.

Here's a list of current banknotes in circulation in Madagascar:

The new series of notes, introduced in 2017, highlights the country's economic activities, biodiversity, culture, and tourist sites.

To convert Malagasy ariaries to US dollars, you'll need to use a currency converter. Simply type in the box how much you want to convert.

You can find the current MGA to USD rate and how it's changed over the past day, week, or month by clicking on the dropdown to select MGA in the first dropdown as the currency that you want to convert and USD in the second drop down as the currency you want to convert to.

Historical exchange rates for Malagasy ariary to United States dollar are available, showing the rate for various amounts of ariaries, from 1 to 1,000,000.

Here's a snapshot of the historical exchange rates:

You can also check the daily updates for the MGA to USD exchange rate, which shows the high, low, and average rate over the past 30 and 90 days.

Take a look at this: Saudi Riyal Rate

The Malagasy ariary has been experiencing some fluctuations in its exchange rate. The current exchange rate for Malagasy ariary to US dollars is 0.000, reflecting a -0.251% change since yesterday.

If you're looking to convert Malagasy ariaries to US dollars, it's relatively easy. Simply type in the box how much you want to convert, and select MGA in the first dropdown and USD in the second dropdown.

The value of Malagasy ariary has remained relatively stable over the past week, with a -0.097% decrease compared to its value 7 days ago. This suggests a consistent trend in the exchange rate.

To get the current MGA to USD rate and see how it's changed, you can use our currency converter. It's a simple 3-step process: type in the amount you want to convert, select the currencies, and let the converter do the rest.

Consider reading: 1 Omani Rial to Us Dollar

The exchange rate for Malagasy ariary to US dollars is currently 0.000, reflecting a -0.251% change since yesterday.

This means that if you converted your Malagasy ariary to US dollars yesterday, you would get slightly less dollars today.

Over the past week, the value of Malagasy ariary has remained relatively stable, with a -0.097% decrease compared to its value 7 days ago.

It's worth noting that exchange rates can fluctuate rapidly, so it's essential to check the current rate before making any financial transactions.

Related reading: Currency Conversion Chart Euro Us Dollar