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The current EUR-MGA interbank rate is at the moment quite close to its highest value of the last two weeks. The highest level observed during this timeframe was EUR 1 = MGA 4,000.0636 (it is now only 0.72% less than that), attained today at 2:00 AM. The actual high level of the Euro-Malagasy ariary rate is in strong contrast with the recent much lower value (EUR 1 = MGA 3,836.9771) observed on January 8, when sending 4,000 EUR for example converted into only 15,347,908.25 MGA (the exact same transfer is equal to 15,885,848.54 MGA with the current rate, a difference of 537,940.29 MGA).
Minor Unit: 1/100 Cent
Central Bank: European Central Bank
Rank in the most traded currencies: #2
Name: Malagasy ariary
Minor Unit: 1/10 Iraimbilanja
Central Bank: Banque Centrale de Madagascar