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LOCAL CURRENCY IN MADAGASCAR

Need to know how much is your money worth in Madagascar? The local currency in Madagascar is called Ariary.

The Malagasy Ariary is issued and managed by the Banque Centrale de Madagascar. To find out the current currency exchange rates for Ariary to other major currencies of the world, click on foreign currency rates.

Malagasy Currency Information
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The currency used in Madagascar is called as the Ariary. This currency is denoted with the currency sign and the ISO 4217 Code for the Malagasy Ariary is MGA. The Ariary, is the official currency of the Madagascar . It is divided into 100 smaller units called iraimbilanja.

The constitution of Madagascar provides that the Madagascar government shall have the power to print the Malagasy Ariary and iraimbilanja coins to be used as a legal tender in Madagascar. The Malagasy Ariary bank notes and Iraimbilanja coins are both designated as "legal tender" in payment of debts.

The Malagasy Ariary bill uses the decimal system, consisting of 100 equal units.

The symbol , usually written before the numerical amount, is used for the Malagasy Ariary.

Currently printed bank notes denominations are Ar100, 200, 500, 1000, 2000, 5000, 10,000 and the coins are minted in the denominations of 1, 2 iraimbilanja, Ar1, 2, 4, 5, 10, 20, 50 .

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The Effect of Balance of Trade and Investment on Malagasy Ariary
Financial analysts regularly cite the balance of trade and investment in Madagascar as the most important influence on the value of the Ariary. The difference between what the Madagascar exports and imports in terms of goods and services to and from other countries can be obtained from a balance of trade statement.

The balance of investment on the other hand represents the difference in exports and imports of capital. If exports from Ariary exceed imports from other countries, in either the balance of trade or balance of investments, it is called a surplus. The term deficit is used when the imports into Ariary exceed exports to other countries. The points below go into detail to explain on how the balance of trade and balance of investments affect the Malagasy Ariary.
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