Malagasy Ariary south korean won exchange rate history (MGA KRW) December 2023

Malagasy Ariary south korean won history for December 2023. The highest quote for this month is 0.29217 (07/12/2023) and the lowest 0.29105 (10/12/2023). The difference between high and low is 0.38.

MGA KRW average rate for December 2023 is 0.28641, the change between 01/12/2023 and 31/12/2023 is +2.65 %.

01 December 2023	1 MGA = 0.2885 KRW
02 December 2023	1 MGA = 0.2874 KRW
03 December 2023	1 MGA = 0.2876 KRW
04 December 2023	1 MGA = 0.2886 KRW
05 December 2023	1 MGA = 0.2926 KRW
06 December 2023	1 MGA = 0.2899 KRW
07 December 2023	1 MGA = 0.2895 KRW
08 December 2023	1 MGA = 0.2874 KRW
10 December 2023	1 MGA = 0.2911 KRW
11 December 2023	1 MGA = 0.2896 KRW
12 December 2023	1 MGA = 0.2884 KRW
13 December 2023	1 MGA = 0.2873 KRW
14 December 2023	1 MGA = 0.2840 KRW
15 December 2023	1 MGA = 0.2836 KRW
16 December 2023	1 MGA = 0.2875 KRW
17 December 2023	1 MGA = 0.2875 KRW
18 December 2023	1 MGA = 0.2805 KRW
19 December 2023	1 MGA = 0.2864 KRW
20 December 2023	1 MGA = 0.2849 KRW
21 December 2023	1 MGA = 0.2832 KRW
22 December 2023	1 MGA = 0.2836 KRW
23 December 2023	1 MGA = 0.2868 KRW
24 December 2023	1 MGA = 0.2868 KRW
25 December 2023	1 MGA = 0.2841 KRW
26 December 2023	1 MGA = 0.2835 KRW
27 December 2023	1 MGA = 0.2844 KRW
28 December 2023	1 MGA = 0.2843 KRW
29 December 2023	1 MGA = 0.2808 KRW

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 Malagasy Ariary South Korean Won