MGA · MGA
Malagasy Ariary (MGA)
The Malagasy Ariary (MGA) is the official currency of Madagascar. This page provides an overview of its history, usage, and characteristics.
Convert this currency
Converted amount
0.0002 USD
Exchange rate
1 MGA = 0.000232 USD
Updated
8/9/2026 12:00 AM
Source
ApiForex Managed Source 3
MGA · Malagasy Ariary
MGA: Malagasy Ariary Overview
The Malagasy Ariary (MGA) is the official currency of Madagascar, an island nation located off the southeastern coast of Africa. Introduced in 1961, it replaced the Malagasy franc at a rate of 1 ariary = 5 francs. The currency is subdivided into 5 iraimbilanja, although due to its low value, coins in circulation are primarily in ariary denominations.
The ariary is issued and regulated by the Central Bank of Madagascar (Banque Centrale de Madagascar). Banknotes are available in denominations of 100, 200, 500, 1,000, 2,000, 5,000, 10,000, and 20,000 ariary, while coins are issued in 1, 2, 5, 10, 20, and 50 ariary, as well as 1 and 2 iraimbilanja. The currency symbol is 'Ar' and the ISO code is MGA.
As a currency of a developing economy, the MGA is subject to fluctuations in the foreign exchange market. It is not widely traded internationally, and its value is influenced by factors such as political stability, economic performance, and global commodity prices. For travelers and businesses, it is advisable to check current exchange rates and be aware that cash is commonly used in Madagascar, especially outside major urban areas.
- Code
- MGA
- Symbol
- MGA
- Current rate
- USD / MGA
Currency information
Last updated · 8/7/2026
The ariary was introduced on January 1, 2005, replacing the Malagasy franc at a rate of 1 ariary = 5 francs.
- Official name
- Malagasy Ariary
- Legal tender status
- Legal tender in Madagascar
- Decimal places
- 2
- Minor unit
- iraimbilanja · 1 MGA = 5 iraimbilanja
- Countries
- Madagascar
- Issuing authority
- Central Bank of Madagascar
- Central bank
- Banky Foiben'i Madagasikara · Official website
- Exchange-rate regime
- Floating (managed)
Common banknotes
100 Ar · 200 Ar · 500 Ar · 1000 Ar · 2000 Ar · 5000 Ar · 10000 Ar · 20000 Ar
Common coins
1 Ar · 2 Ar · 5 Ar · 10 Ar · 20 Ar · 50 Ar · 100 Ar · 200 Ar
Also known as
Ariary · Malagasy Ariary · MGA · Ar
Practical notes
- The ariary is one of only two currencies (with the Mauritanian ouguiya) that use a non-decimal division, with 1 ariary = 5 iraimbilanja.
- The symbol 'Ar' is used locally.
Priority currency pairs
The most useful conversions for this currency.
Malagasy Ariary questions
What is the MGA exchange rate?
The displayed rate is the latest available reference rate for USD/MGA. It can change throughout the day.
How can I convert MGA online?
Use the converter above to calculate indicative amounts between MGA and the other supported currencies.