Historic South Korean Won Malagasy Ariary

South Korean Won malagasy ariary history for February 2024. The highest quote for this month is 3.4118 (24/02/2024) and the lowest 3.4716 (09/02/2024). The difference between high and low is -1.75.

KRW MGA average rate for February 2024 is 3.38762, the change between 01/02/2024 and 29/02/2024 is +0.58 %.

01 February 20241 KRW = 3.374 MGA
02 February 20241 KRW = 3.390 MGA
03 February 20241 KRW = 3.388 MGA
04 February 20241 KRW = 3.388 MGA
05 February 20241 KRW = 3.375 MGA
06 February 20241 KRW = 3.367 MGA
07 February 20241 KRW = 3.395 MGA
08 February 20241 KRW = 3.412 MGA
09 February 20241 KRW = 3.380 MGA
12 February 20241 KRW = 3.373 MGA
13 February 20241 KRW = 3.402 MGA
14 February 20241 KRW = 3.375 MGA
15 February 20241 KRW = 3.409 MGA
16 February 20241 KRW = 3.402 MGA
17 February 20241 KRW = 3.409 MGA
18 February 20241 KRW = 3.409 MGA
19 February 20241 KRW = 3.379 MGA
20 February 20241 KRW = 3.367 MGA
21 February 20241 KRW = 3.386 MGA
22 February 20241 KRW = 3.386 MGA
23 February 20241 KRW = 3.383 MGA
24 February 20241 KRW = 3.412 MGA
25 February 20241 KRW = 3.412 MGA
26 February 20241 KRW = 3.373 MGA
27 February 20241 KRW = 3.388 MGA
28 February 20241 KRW = 3.379 MGA
29 February 20241 KRW = 3.354 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.
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