Malagasy Ariary
(MGA) Insights
Currency of large Indian Ocean island nation (4th largest island globally); world's largest vanilla producer (80%+ global share); sapphire, graphite, and nickel exports; extreme biodiversity (lemurs, baobabs); endemic poverty; political instability history; growing China mining investment
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MGA Live Converter
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Currency Snapshot
Technical specifications, central bank governance, and market standing for Malagasy Ariary.
MGA
Standardized ISO 4217 Currency Code
Ar
Unicode Glyphs & Display Symbol
1/5 = Iraimbilanja Decimals
Subdivision unit definition
Madagascar
Central Bank of Madagascar (BFM)
Central Bank of Madagascar (BFM)
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Market-determined exchange rate mechanism
Currency Standard: Fiat
Classified as Fiat in global trade networks
Banknotes
Ar 100
Coins
1Ir
Global Network Integration
The FX Intelligence terminal maps the institutional footprint of the Malagasy Ariary, highlighting cross-border utilization and primary trading corridors.
Verified Authority
Regulated data streams mapped to Central Bank of Madagascar (BFM).
MGA Market Insights
Deep-dive analysis of the Malagasy Ariary's global impact, remittance role, and institutional influence.
Strong Currency Impact
Cheaper imports; lower vanilla/nickel revenues; lower inflation
Weak Currency Impact
Higher vanilla and sapphire revenues; higher import costs; inflation pressure
Remittance Role
Madagascar receives modest remittances from diaspora in France, USA (~$500 million/year); seasonal Malagasy workers in Réunion, Mayotte
Central Bank Tools
Policy Rate, Reserve Requirements, FX interventions
Common Questions About Malagasy Ariary
Everything you need to know about MGA exchange rates, banknotes, and historical significance.