MGA

Malagasy Ariary

MGA is the official currency of Madagascar. It is issued by the Banky Foiben'i Madagasikara (Central Bank of Madagascar).

The ariary replaced the Malagasy franc in 2005 at 5 francs = 1 ariary. Uniquely, the ariary is one of only two currencies subdivided into five subunits (iraimbilanja) rather than the standard 100. The currency operates under a free-floating exchange rate regime.

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