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Understanding the Table:
The comparison table above helps you see the total cost of your currency transaction by showing the exchange rates offered by different providers. It also makes it easy to spot potential savings from market-leading FX services compared to bank rates.
To see a full list of available providers, simply enter your transaction type, details and click ‘GET RATES’.
Sending money to Madagascar can be an expensive business, more so if you aren’t even aware of all the hidden fees. Money transfer companies and banks profit by charging you fees and a normally hidden margin on the exchange rate.
Using your Bank to make international wire transfers to India can be especially expensive – often 5% to 10% worse than using a foreign exchange specialist to send to Madagascar bank accounts or pay a Malagasy ariary invoice.
US dollar (USD) to Malagasy ariary (MGA) market data - latest interbank exchange rate, trend, chart & historic rates.
Predicting exchange rate movements is always challenging, as they’re influenced by a wide range of economic and geopolitical factors. One useful way to assess the current value of the US dollar against the Malagasy ariary is to review how the USD/MGA rate has changed over time.
The table below shows the percentage change in the USD to MGA exchange rate across various timeframes—from the past 2 weeks to the last 20 years:
| Date | USD/MGA | Change | Period |
|---|---|---|---|
07 Jul 2023 | 4535.00 | 1.5% ▼ | 2 Week |
22 Apr 2023 | 4410.00 | 1.2% ▲ | 3 Month |
21 Jul 2022 | 4206.69 | 6.1% ▲ | 1 Year |
22 Jul 2018 | 3354.42 | 33.1% ▲ | 5 Year |
23 Jul 2013 | 2198.77 | 103.1% ▲ | 10 Year |
To help you understand the real-world value of the current exchange rate, the table below shows how much US dollar are worth in Malagasy ariary across a range of amounts.
This gives a quick view of what you’d get when converting different USD amounts at today’s rate * :
| USD | MGA |
|---|
| USD | MGA |
|---|---|
| $ 0.2220 | Ar 1,000 |
| $ 1.1100 | Ar 5,000 |
| $ 4.4400 | Ar 20,000 |
| $ 22.20 | Ar 100,000 |
More amounts
*Converted at the current USD-MGA interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.
The best USD to MGA exchange rate is 4452.91 from Wise. This is -1.3% compared to the mid-market rate 4,513.8.
As exchange rates can vary significantly between banks and also between currency exchange providers, it's therefore important to carefully compare US dollar (USD) to Malagasy ariary (MGA) rates from different sources before making a conversion.
The above Dollar to Ariary comparison table makes it easy to compare the Total Fees (both variable and fixed) you are being charged by banks and other foreign exchange providers against the latest USD-MGA mid-rate and the possible savings of using various providers.
Looking at the full USD to MGA - Send Money comparison table the provider with the best USD to MGA exchange rate is Wise at 4452.91, -1.3% from the latest mid-market rate 4,513.8.
The next best is WorldRemit at 4405.51, -2.4% from the mid-rate.
Then OFX at 4046.12, which is -10.4% from the mid-rate.
It's important to note that exchange rates also fluctuate frequently due to market conditions. Additionally, banks and foreign exchange providers often apply a margin to the exchange rate, resulting in a less favorable rate for customers compared to the mid-market rate. For more competitive rates, you might consider using a specialized currency exchange service or platforms that offer rates closer to the mid-market rate.
View a full list of exchange rates by selecting your Base (from) currency:
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