South Korean Won malagasy ariary exchange rate history (KRW MGA) December 2023

South Korean Won malagasy ariary history for December 2023. The highest quote for this month is 3.5211 (25/12/2023) and the lowest 3.6042 (29/12/2023). The difference between high and low is -2.36.

KRW MGA average rate for December 2023 is 3.49181, the change between 01/12/2023 and 31/12/2023 is -2.72 %.

01 December 2023	1 KRW = 3.466 MGA
02 December 2023	1 KRW = 3.480 MGA
03 December 2023	1 KRW = 3.477 MGA
04 December 2023	1 KRW = 3.465 MGA
05 December 2023	1 KRW = 3.418 MGA
06 December 2023	1 KRW = 3.449 MGA
07 December 2023	1 KRW = 3.454 MGA
08 December 2023	1 KRW = 3.479 MGA
10 December 2023	1 KRW = 3.436 MGA
11 December 2023	1 KRW = 3.453 MGA
12 December 2023	1 KRW = 3.468 MGA
13 December 2023	1 KRW = 3.481 MGA
14 December 2023	1 KRW = 3.522 MGA
15 December 2023	1 KRW = 3.526 MGA
16 December 2023	1 KRW = 3.478 MGA
17 December 2023	1 KRW = 3.478 MGA
18 December 2023	1 KRW = 3.565 MGA
19 December 2023	1 KRW = 3.492 MGA
20 December 2023	1 KRW = 3.510 MGA
21 December 2023	1 KRW = 3.531 MGA
22 December 2023	1 KRW = 3.526 MGA
23 December 2023	1 KRW = 3.487 MGA
24 December 2023	1 KRW = 3.487 MGA
25 December 2023	1 KRW = 3.520 MGA
26 December 2023	1 KRW = 3.528 MGA
27 December 2023	1 KRW = 3.516 MGA
28 December 2023	1 KRW = 3.518 MGA
29 December 2023	1 KRW = 3.561 MGA

01/01/2023: Planned Fourth Redenomination of Ariary

Madagascar announces plans for the fourth redenomination of the Ariary, aiming to simplify the currency system further.

01/01/2017: Third Redenomination of Ariary

The Malagasy Ariary experiences its third redenomination, resulting in the currency being divided by 5, making 1 new Ariary equal to 5 old Ariary.

27/10/2008: Global Financial Crisis

The Korean Won faced significant volatility during the global financial crisis, as global markets tumbled and investor confidence wavered.

01/08/2003: Second Redenomination of Ariary

The Malagasy Ariary goes through its second redenomination, with 1 new Ariary equal to 5 old Ariary.

01/01/1998: Establishment of IMF Program

South Korea agreed to an International Monetary Fund (IMF) bailout package, which stabilized the value of the Korean Won and initiated economic reforms.

03/12/1997: Asian Financial Crisis

The Korean Won experienced a sharp depreciation during the Asian Financial Crisis, causing severe economic hardships and requiring international assistance.

16/12/1993: First Redenomination of Ariary

The Malagasy Ariary undergoes its first redenomination, replacing the currency at a ratio of 1 new Ariary to 5 old Ariary.

01/01/1983: Introduction of Malagasy Ariary

The Malagasy Ariary is introduced as the new official currency of Madagascar, replacing the Malagasy Franc.

27/02/1980: Declaration of Martial Law

Amidst political turmoil, President Chun Doo-hwan declared martial law, causing economic instability and impacting the value of the Korean Won.

26/06/1975: Independence of Madagascar

Madagascar declares independence from French colonial rule, leading to changes in the national currency.

22/06/1962: Introduction of the Hwan

To combat inflation, the South Korean government introduced the Hwan as the new currency, replacing the old Korean Won.

26/06/1961: Introduction of Malagasy Franc

Malagasy Franc introduced as the official currency of Madagascar to replace the French Franc.

27/07/1953: Armistice Agreement

Following the Korean War, the Armistice Agreement was signed, stabilizing the region and aiding in the recovery of the Korean Won.

15/08/1945: Liberation from Japanese Rule

Upon the end of Japanese colonial rule, the Korean Won was introduced as the official currency of South Korea.

Historic South Korean Won Malagasy Ariary