MGF · MGF
Malagasy franc (MGF)
The Malagasy Franc (MGF) was the currency of Madagascar until 2005, when it was replaced by the Ariary (MGA).
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MGF · Malagasy franc
Malagasy Franc (MGF) Overview
The Malagasy Franc (MGF) served as the official currency of Madagascar for several decades. It was subdivided into 100 centimes, though centime coins were rarely used due to low value. The currency underwent various changes, including revaluations and the introduction of new banknotes and coins, reflecting the country's economic history.
In 2005, Madagascar adopted a new currency, the Ariary (MGA), which replaced the Malagasy Franc at a rate of 1 Ariary = 5 Malagasy Francs. The transition was part of a broader effort to stabilize the economy and modernize the monetary system. The Ariary is now the sole legal tender in Madagascar.
Today, the Malagasy Franc is obsolete and no longer in circulation. Historical MGF banknotes and coins are of interest to collectors and numismatists. For current exchange rates and financial transactions, the Ariary is used. This page provides historical context and general information about the Malagasy Franc.
- Code
- MGF
- Symbol
- MGF
- Current rate
- USD / MGF
Currency information
Last updated · 8/7/2026
Introduced in 1963, replacing the CFA franc.
- Official name
- Malagasy franc
- Legal tender status
- Withdrawn
- Decimal places
- 0
- Minor unit
- centime · 1 MGF = 100 centime
- Countries
- Madagascar
- Issuing authority
- Institut d'émission malgache
- Central bank
- Banque centrale de Madagascar · Official website
- Exchange-rate regime
- Fixed to the French franc
Common banknotes
500 FMG · 1000 FMG · 5000 FMG · 10000 FMG
Common coins
1 FMG · 2 FMG · 5 FMG · 10 FMG · 20 FMG · 50 FMG
Also known as
FMG · Malagasy franc · MGF
Practical notes
- Replaced by the Ariary in 2005.
Priority currency pairs
The most useful conversions for this currency.
Malagasy franc questions
What is the MGF exchange rate?
The displayed rate is the latest available reference rate for USD/MGF. It can change throughout the day.
How can I convert MGF online?
Use the converter above to calculate indicative amounts between MGF and the other supported currencies.