Historic Malagasy Ariary Nigerian Naira

Malagasy Ariary nigerian naira history for February 2024. The highest quote for this month is 0.36422 (29/02/2024) and the lowest 0.35736 (23/02/2024). The difference between high and low is 1.88.

MGA NGN average rate for February 2024 is 0.32582, the change between 01/02/2024 and 29/02/2024 is -37.38 %.

01 February 20241 MGA = 0.2653 NGN
02 February 20241 MGA = 0.2646 NGN
03 February 20241 MGA = 0.3118 NGN
04 February 20241 MGA = 0.3118 NGN
05 February 20241 MGA = 0.2640 NGN
06 February 20241 MGA = 0.3119 NGN
07 February 20241 MGA = 0.3124 NGN
08 February 20241 MGA = 0.3129 NGN
09 February 20241 MGA = 0.3119 NGN
12 February 20241 MGA = 0.3286 NGN
13 February 20241 MGA = 0.3325 NGN
14 February 20241 MGA = 0.3348 NGN
15 February 20241 MGA = 0.3354 NGN
16 February 20241 MGA = 0.3358 NGN
17 February 20241 MGA = 0.3290 NGN
18 February 20241 MGA = 0.3290 NGN
19 February 20241 MGA = 0.3319 NGN
20 February 20241 MGA = 0.3326 NGN
21 February 20241 MGA = 0.3556 NGN
22 February 20241 MGA = 0.3560 NGN
23 February 20241 MGA = 0.3578 NGN
24 February 20241 MGA = 0.3280 NGN
25 February 20241 MGA = 0.3280 NGN
26 February 20241 MGA = 0.3581 NGN
27 February 20241 MGA = 0.3422 NGN
28 February 20241 MGA = 0.3508 NGN
29 February 20241 MGA = 0.3645 NGN

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.

20/03/2020: Impact of COVID-19 Pandemic

The outbreak of the COVID-19 pandemic resulted in a significant decline in oil prices, affecting Nigeria's economy and putting pressure on the Naira's exchange rate.

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.

20/06/2016: Adoption of Flexible Exchange Rate Policy

The Central Bank of Nigeria adopted a flexible exchange rate policy, allowing the Naira to float freely against other currencies based on market forces.

01/08/2003: Second Redenomination of Ariary

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

29/05/1999: Transition to Democratic Governance

Nigeria transitioned to democratic governance, leading to economic reforms and stability, positively affecting the value and management of the Naira currency.

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.

12/06/1993: Introduction of the Third Nigerian Naira

The third Nigerian Naira (NGN) was introduced after the country's return to civilian rule following years of military regimes.

31/12/1984: Implementation of the Structural Adjustment Program

The Nigerian government implemented the Structural Adjustment Program, leading to a significant devaluation of the Naira and the adoption of a floating exchange rate.

01/01/1983: Introduction of Malagasy Ariary

The Malagasy Ariary is introduced as the new official currency of Madagascar, replacing the Malagasy Franc.

01/07/1979: Adoption of the Second Nigerian Naira

The second Nigerian Naira (NGN) was introduced following the adoption of a new constitution and the country's transition to civilian rule.

26/06/1975: Independence of Madagascar

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

01/07/1973: Introduction of decimal currency

The Nigerian Naira was introduced as the official currency of Nigeria, replacing the pound sterling with a decimal currency system.

26/06/1961: Introduction of Malagasy Franc

Malagasy Franc introduced as the official currency of Madagascar to replace the French Franc.
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