Historic South Korean Won Malagasy Ariary

South Korean Won malagasy ariary history for January 2024. The highest quote for this month is 3.5392 (01/01/2024) and the lowest 3.5373 (01/01/2024). The difference between high and low is 0.05.

KRW MGA average rate for January 2024 is 3.4324, the change between 01/01/2024 and 31/01/2024 is +3.91 %.

01 January 20241 KRW = 3.534 MGA
02 January 20241 KRW = 3.537 MGA
03 January 20241 KRW = 3.483 MGA
04 January 20241 KRW = 3.478 MGA
05 January 20241 KRW = 3.489 MGA
06 January 20241 KRW = 3.489 MGA
07 January 20241 KRW = 3.492 MGA
08 January 20241 KRW = 3.455 MGA
09 January 20241 KRW = 3.491 MGA
10 January 20241 KRW = 3.430 MGA
11 January 20241 KRW = 3.441 MGA
12 January 20241 KRW = 3.446 MGA
14 January 20241 KRW = 3.481 MGA
15 January 20241 KRW = 3.442 MGA
16 January 20241 KRW = 3.417 MGA
17 January 20241 KRW = 3.376 MGA
18 January 20241 KRW = 3.378 MGA
19 January 20241 KRW = 3.390 MGA
22 January 20241 KRW = 3.384 MGA
23 January 20241 KRW = 3.376 MGA
24 January 20241 KRW = 3.366 MGA
25 January 20241 KRW = 3.399 MGA
26 January 20241 KRW = 3.387 MGA
28 January 20241 KRW = 3.391 MGA
29 January 20241 KRW = 3.353 MGA
30 January 20241 KRW = 3.375 MGA
31 January 20241 KRW = 3.396 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.
KRW MGA January 2024
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