MGA black market rate on Sep 20, 2026: 4,225 per USD
On Sunday, September 20, 2026, the US dollar traded at about 4,225 MGA on Madagascar's parallel (black) market at the close of observations. The day opened at 4,209 MGA, reached a high of 4,250 and a low of 4,160, a trading range of 89.97 MGA (2.16%).
Across 288 observations, the average price to buy dollars was 4,234 MGA and the average price received when selling dollars was 4,296 MGA. Over the session the Malagasy Ariary weakened against the dollar (+0.39% from open to close).
Official rate vs black market rate on Sep 20, 2026
The official exchange rate published for Madagascar on this date was 4,366 MGA per USD. The parallel-market close of 4,225 MGA therefore implied a premium of -3.22% over the official rate — a discount to the official rate, which is unusual and often reflects thin or one-sided quotes.
How Sep 20, 2026 compares
Compared with the previous observed day (Sep 19, 2026, close 4,209 MGA), the rate moved +0.39%.
One week earlier (Sep 13, 2026) the close was 4,190 MGA, so the weekly change was +0.84%.
Thirty days earlier (Aug 21, 2026) the close was 4,109 MGA, a +2.83% 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 20, 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 20, 2026?
- The USD to MGA parallel market rate closed at approximately 4,225 MGA per US dollar on Sunday, September 20, 2026, after trading between 4,160 and 4,250 MGA.
- How much did the MGA move against the dollar that day?
- From an open of 4,209 to a close of 4,225 MGA, the parallel rate moved +0.39% on Sep 20, 2026.
- What was the gap between the official and black market MGA rate on that date?
- The official rate was 4,366 MGA per USD versus a parallel close of 4,225 MGA, a premium of -3.22%.
- Was the MGA black market rate higher or lower than the day before?
- Higher: the previous observed close was 4,209 MGA on Sep 19, 2026, a change of +0.39%.
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.