MGA black market rate on Sep 16, 2026: 4,176 per USD
On Wednesday, September 16, 2026, the US dollar traded at about 4,176 MGA on Madagascar's parallel (black) market at the close of observations. The day opened at 4,222 MGA, reached a high of 4,230 and a low of 4,162, a trading range of 68.01 MGA (1.63%).
Across 288 observations, the average price to buy dollars was 4,212 MGA and the average price received when selling dollars was 4,278 MGA. Over the session the Malagasy Ariary strengthened against the dollar (-1.09% from open to close).
Official rate vs black market rate on Sep 16, 2026
The official exchange rate published for Madagascar on this date was 4,334 MGA per USD. The parallel-market close of 4,176 MGA therefore implied a premium of -3.66% over the official rate — a discount to the official rate, which is unusual and often reflects thin or one-sided quotes.
How Sep 16, 2026 compares
Compared with the previous observed day (Sep 15, 2026, close 4,222 MGA), the rate moved -1.09%.
One week earlier (Sep 9, 2026) the close was 4,185 MGA, so the weekly change was -0.23%.
Thirty days earlier (Aug 17, 2026) the close was 4,140 MGA, a +0.85% move over the month.
How this daily figure is produced
ETCurrency samples Madagascar's USD/MGA parallel market throughout the day from peer-to-peer stablecoin order books and, where available, community submissions. Each sample is filtered for outliers and aggregated into a single buy and sell quote; the figures above are the first, highest, lowest and last of those aggregated quotes for Sep 16, 2026 (UTC).
USDT peer-to-peer prices closely track cash dollar prices in most parallel markets but are not identical to them: payment-method fees, merchant margins and local demand for stablecoins can all add a few tenths of a percent.
Frequently asked questions
- What was the dollar to Malagasy Ariary black market rate on Sep 16, 2026?
- The USD to MGA parallel market rate closed at approximately 4,176 MGA per US dollar on Wednesday, September 16, 2026, after trading between 4,162 and 4,230 MGA.
- How much did the MGA move against the dollar that day?
- From an open of 4,222 to a close of 4,176 MGA, the parallel rate moved -1.09% on Sep 16, 2026.
- What was the gap between the official and black market MGA rate on that date?
- The official rate was 4,334 MGA per USD versus a parallel close of 4,176 MGA, a premium of -3.66%.
- Was the MGA black market rate higher or lower than the day before?
- Lower: the previous observed close was 4,222 MGA on Sep 15, 2026, a change of -1.09%.
Figures are aggregated parallel-market observations for Madagascar in UTC and are indicative only; they are not a quote to trade. See the full USD → Malagasy Ariary history or today's live rate.