MGA black market rate on Sep 25, 2026: 4,320 per USD
On Friday, September 25, 2026, the US dollar traded at about 4,320 MGA on Madagascar's parallel (black) market at the close of observations. The day opened at 4,304 MGA, reached a high of 4,356 and a low of 4,188, a trading range of 168.39 MGA (4.02%).
Across 288 observations, the average price to buy dollars was 4,326 MGA and the average price received when selling dollars was 4,406 MGA. Over the session the Malagasy Ariary weakened against the dollar (+0.37% from open to close).
Official rate vs black market rate on Sep 25, 2026
The official exchange rate published for Madagascar on this date was 4,389 MGA per USD. The parallel-market close of 4,320 MGA therefore implied a premium of -1.59% over the official rate — a narrow gap, indicating the two markets were close to converged.
How Sep 25, 2026 compares
Compared with the previous observed day (Sep 24, 2026, close 4,307 MGA), the rate moved +0.28%.
One week earlier (Sep 18, 2026) the close was 4,155 MGA, so the weekly change was +3.96%.
Thirty days earlier (Aug 26, 2026) the close was 4,161 MGA, a +3.81% 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 25, 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 25, 2026?
- The USD to MGA parallel market rate closed at approximately 4,320 MGA per US dollar on Friday, September 25, 2026, after trading between 4,188 and 4,356 MGA.
- How much did the MGA move against the dollar that day?
- From an open of 4,304 to a close of 4,320 MGA, the parallel rate moved +0.37% on Sep 25, 2026.
- What was the gap between the official and black market MGA rate on that date?
- The official rate was 4,389 MGA per USD versus a parallel close of 4,320 MGA, a premium of -1.59%.
- Was the MGA black market rate higher or lower than the day before?
- Higher: the previous observed close was 4,307 MGA on Sep 24, 2026, a change of +0.28%.
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.