Historic Malagasy Ariary South Korean Won

Malagasy Ariary south korean won history for January 2024. The highest quote for this month is 0.29876 (17/01/2024) and the lowest 0.29819 (29/01/2024). The difference between high and low is 0.19.

MGA KRW average rate for January 2024 is 0.29141, the change between 01/01/2024 and 31/01/2024 is -4.07 %.

01 January 20241 MGA = 0.2830 KRW
02 January 20241 MGA = 0.2827 KRW
03 January 20241 MGA = 0.2871 KRW
04 January 20241 MGA = 0.2875 KRW
05 January 20241 MGA = 0.2866 KRW
06 January 20241 MGA = 0.2866 KRW
07 January 20241 MGA = 0.2863 KRW
08 January 20241 MGA = 0.2895 KRW
09 January 20241 MGA = 0.2864 KRW
10 January 20241 MGA = 0.2916 KRW
11 January 20241 MGA = 0.2907 KRW
12 January 20241 MGA = 0.2902 KRW
14 January 20241 MGA = 0.2873 KRW
15 January 20241 MGA = 0.2905 KRW
16 January 20241 MGA = 0.2926 KRW
17 January 20241 MGA = 0.2963 KRW
18 January 20241 MGA = 0.2961 KRW
19 January 20241 MGA = 0.2950 KRW
22 January 20241 MGA = 0.2956 KRW
23 January 20241 MGA = 0.2962 KRW
24 January 20241 MGA = 0.2971 KRW
25 January 20241 MGA = 0.2942 KRW
26 January 20241 MGA = 0.2953 KRW
28 January 20241 MGA = 0.2949 KRW
29 January 20241 MGA = 0.2983 KRW
30 January 20241 MGA = 0.2963 KRW
31 January 20241 MGA = 0.2945 KRW

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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