Malagasy ariary
In circulation in Madagascar
- ISO code
- MGA
- Symbol
- Ar
- Minor unit
- 100
- Notes
- 7
- Coins
- 3
- Issued by
- Banky Foiben'i Madagasikara
Notes and coins in circulation
- Ar100
- Ar200
- Ar500
- Ar1,000
- Ar2,000
- Ar5,000
- Ar10,000
The Malagasy ariary’s largest current denomination is Ar10,000, worth about $2.28: the 10th least valuable top note among the 150 circulating currencies we have verified, where the median is $27.18.
Bars are scaled to face value on a log scale, not to physical size. Shading indicates value: we have not verified this issuer’s colours. Converted at mid-market reference rates; what a counter pays is always less.
What it is worth
| Currency | 1 MGA = | 1 unit = |
|---|---|---|
| USD | 0.00023 USD | 4,379 MGA |
| EUR | 0.00020 EUR | 5,023 MGA |
| GBP | 0.00017 GBP | 5,856 MGA |
| INR | 0.0219 INR | 45.67 MGA |
Mid-market reference rates, snapshot 22 September 2026: indicative only. What you actually receive is always less. Work out the real cost →
Where it is used
- Madagascar
Tools
What exchanging costs →
Paste the rate you were quoted and see the gap against mid-market.
Do I need to declare it? →
Both legs of any route: where you leave and where you arrive.
Is a torn note still valid? →
How much must survive, and who pays out.
Sources: last verified 22 September 2026 secondary sourced
- ISO 4217 currency list (SIX Group, the ISO 4217 registrar) · retrieved 22 September 2026 primary
- Banky Foiben'i Madagasikara · retrieved 22 September 2026 primary
- Malagasy ariary (Wikipedia) · retrieved 22 September 2026 secondary