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Malagasy Ariary (MGA)

The Malagasy Ariary is the primary currency of Madagascar. This currency is used by an estimated 26,262,368 people. Based on our estimate, Malagasy Ariary is the #47 most popular currency is the world.

The currency code for the Malagasy Ariary is "MGA". The ISO 4217 number for this currency is 969. The currency symbol for the Ariary is "Ar".

Malagasy Ariary conversion rates, useful facts, and holiday schedule can be found below.

MGA Currency Demographics

The primary country using the Malagasy Ariary is Madagascar.

There are approximately 26,262,368 people around the world who use the Malagasy Ariary. The Malagasy Ariary is the #47 most used widely currency is the world.

26,262,368 user population
Ranked #47 in the world

MGA Exchange Rates

1 Malagasy Ariary equals:

Australian Dollar


Inverse: Ar2,378.85


Inverse: Ar4,105.61
British Pound


Inverse: Ar4,681.54
Indian Rupee


Inverse: Ar49.42
Japanese Yen


Inverse: Ar34.62
US Dollar


Inverse: Ar3,756.45

† Rates last updated at 7 minutes ago

‡ Rates are the interbank rate and are only available on large transactions

MGA Currency Facts

MGA Details

ISO 4217 CodeMGA
ISO 4217 Number969
Unit NameAriary
Currency NicknamesN.a.

MGA Denominations

Minor Unit NameN.a.
Minor Unit Symbol N.a.
Minor Units2
Frequently Used banknotesAr100, Ar200, Ar500, Ar1000, Ar2000, Ar5000, Ar10000
Rarely Used BanknotesN.a.
Frequently Used CoinsAr1, Ar2, Ar4, Ar5, Ar10, Ar20, Ar50, 1, 25
Rarely Used CoinsN.a.

MGA Issuance

Central BankBanque Centrale de Madagascar
Central Bank Website

World Bank Statistics

Estimated User Population26,262,368 people
Population Rank#47
MGA Inflation RateN.a.
Inflation RankN.a.

† Population and Inflation rate as based on data from the World Bank.

‡ Corrections or suggestions? Please contact us.

2020 MGA Currency Holidays

Based on holidays observed by the Banque Centrale de Madagascar. On these dates banks and payment systems may be closed. Settlement in Malagasy Ariary may also be closed on these dates.

New Year's Day January 1, 2020 Closed
Veterans Day Eve March 28, 2020 Closed
Veterans Day March 29, 2020 Closed
Good Friday April 10, 2020 Partial Day
Easter Monday April 13, 2020 Closed
Labour Day Eve April 30, 2020 Closed
Labour Day May 1, 2020 Closed
Ascension Day Eve May 20, 2020 Closed
Ascension Day May 21, 2020 Closed
Whitmonday June 1, 2020 Closed
Independence Day Eve June 25, 2020 Closed
Independence Day June 26, 2020 Closed
Assumption Day Eve August 14, 2020 Closed
Assumption Day August 15, 2020 Closed
All Saints Day Eve October 31, 2020 Closed
All Saints Day November 1, 2020 Closed
Christmas Eve December 24, 2020 Closed
Christmas Day December 25, 2020 Closed
New Year's Eve December 31, 2020 Closed

MGA Currency History

The Malagasy Ariary was created in January 2005. The table below shows the history of currencies that ultimately became the Malagasy Ariary.

Currency Active Replaced By
Malagasy franc (MGF) July 1963 to January 2005 MGA