Historic Malagasy Ariary Eritrean nakfa

Malagasy Ariary eritrean nakfa history for February 2024. The highest quote for this month is 0.003367 (29/02/2024) and the lowest 0.003388 (02/02/2024). The difference between high and low is -0.62.

MGA ERN average rate for February 2024 is 0.00334, the change between 01/02/2024 and 29/02/2024 is -0.48 %.

01 February 20241 MGA = 0.0033 ERN
02 February 20241 MGA = 0.0033 ERN
03 February 20241 MGA = 0.0033 ERN
04 February 20241 MGA = 0.0033 ERN
05 February 20241 MGA = 0.0033 ERN
06 February 20241 MGA = 0.0034 ERN
07 February 20241 MGA = 0.0033 ERN
08 February 20241 MGA = 0.0033 ERN
09 February 20241 MGA = 0.0033 ERN
12 February 20241 MGA = 0.0034 ERN
13 February 20241 MGA = 0.0033 ERN
14 February 20241 MGA = 0.0033 ERN
15 February 20241 MGA = 0.0033 ERN
16 February 20241 MGA = 0.0033 ERN
17 February 20241 MGA = 0.0033 ERN
18 February 20241 MGA = 0.0033 ERN
19 February 20241 MGA = 0.0033 ERN
20 February 20241 MGA = 0.0034 ERN
21 February 20241 MGA = 0.0033 ERN
22 February 20241 MGA = 0.0033 ERN
23 February 20241 MGA = 0.0034 ERN
24 February 20241 MGA = 0.0033 ERN
25 February 20241 MGA = 0.0033 ERN
26 February 20241 MGA = 0.0034 ERN
27 February 20241 MGA = 0.0033 ERN
28 February 20241 MGA = 0.0033 ERN
29 February 20241 MGA = 0.0034 ERN

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.

08/04/2020: COVID-19 impact on currency circulation

Due to the COVID-19 pandemic, circulation of nakfa banknotes decreased as people relied more on digital transactions.

25/02/2019: Introduction of new nakfa banknotes

Eritrea introduced new banknotes in denominations of 5, 10, 20, 50, and 100 nakfa.

30/10/2018: Currency devaluation

Eritrea devalued the nakfa by 14%, reducing its official exchange rate to 1 USD = 15 ERN.

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.

22/01/2015: Dollarization policy imposed

Eritrea imposed a dollarization policy, making the US dollar the predominant currency for most transactions.

14/11/2005: Currency redenomination

The Eritrean nakfa underwent a redenomination where old nakfa notes were replaced with new nakfa notes in a ratio of 1:1,000.

01/08/2003: Second Redenomination of Ariary

The Malagasy Ariary goes through its second redenomination, with 1 new Ariary equal to 5 old Ariary.

08/11/1997: Introduction of the Eritrean nakfa

The Eritrean nakfa was introduced as the official currency of Eritrea, replacing the Ethiopian birr.

08/11/1997: Currency exchange rate fixed

The Eritrean nakfa was fixed at an exchange rate of 1 USD = 10 ERN.

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.

26/06/1975: Independence of Madagascar

Madagascar declares independence from French colonial rule, leading to changes in the national currency.

26/06/1961: Introduction of Malagasy Franc

Malagasy Franc introduced as the official currency of Madagascar to replace the French Franc.
MGA ERN January 2024
MGA ERN February 2024
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MGA ERN January 2025