USD to MGA Exchange Rate History — Madagascar
Over the past 90 days, the USD to Malagasy Ariary parallel (black market) rate moved from about 4,206 MGA on Jul 20, 2026 to 4,205 MGA on Jul 21, 2026 — a change of -0.0%. Across that window the Malagasy Ariary held broadly steady against the dollar, trading between a low of 4,135 and a high of 4,210 MGA, averaging 4,185 MGA per US dollar.
In Madagascar, the Malagasy Ariary trades on a parallel market whenever the street price of dollars drifts away from the official rate.
How to read the MGA rate history
The chart plots the parallel buy rate — how many MGA it took to buy one US dollar — at each point we recorded. The daily table below lists the closing buy and sell rate for each day, while the monthly table summarises the average, high and low for each month, which is useful for comparing one period with another.
A rising line means the Malagasy Ariary is losing value (more MGA per dollar); a falling line means it is gaining. Over this window the spread between the high (4,210) and the low (4,135) shows how volatile the market has been — here, roughly 0.5% around the average.
What has moved the Malagasy Ariary recently?
In Madagascar, the parallel rate is driven by factors such as foreign-exchange shortages, import financing needs, commodity-export swings. When dollars become scarcer or confidence falls, the street rate climbs ahead of the official central bank of Madagascar rate; when supply improves or policy tightens, the gap can narrow again.
Because the parallel rate often moves before official devaluations, its history is a useful early-warning record — a steadily rising trend frequently precedes an official adjustment, while a long plateau suggests relative stability.
Using historical MGA rates
Historical rates help with budgeting, invoicing, remittance planning and spotting trends, but they are not a forecast — past movements do not guarantee future ones. For the live rate, see our main USD to MGA page, and use the converter for exact amounts.
All figures are aggregated from P2P platforms, community reports and market monitoring, then refreshed hourly. They are provided for information and price-transparency only and are not financial advice.