MGA black market rate on Sep 28, 2026: 4,288 per USD
On Monday, September 28, 2026, the US dollar traded at about 4,288 MGA on Madagascar's parallel (black) market at the close of observations. The day opened at 4,257 MGA, reached a high of 4,390 and a low of 4,257, a trading range of 133.1 MGA (3.13%).
Across 288 observations, the average price to buy dollars was 4,331 MGA and the average price received when selling dollars was 4,452 MGA. Over the session the Malagasy Ariary weakened against the dollar (+0.72% from open to close).
Official rate vs black market rate on Sep 28, 2026
The official exchange rate published for Madagascar on this date was 4,396 MGA per USD. The parallel-market close of 4,288 MGA therefore implied a premium of -2.47% over the official rate — a discount to the official rate, which is unusual and often reflects thin or one-sided quotes.
How Sep 28, 2026 compares
Compared with the previous observed day (Sep 27, 2026, close 4,257 MGA), the rate moved +0.72%.
One week earlier (Sep 21, 2026) the close was 4,220 MGA, so the weekly change was +1.61%.
Thirty days earlier (Aug 29, 2026) the close was 4,125 MGA, a +3.94% 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 28, 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 28, 2026?
- The USD to MGA parallel market rate closed at approximately 4,288 MGA per US dollar on Monday, September 28, 2026, after trading between 4,257 and 4,390 MGA.
- How much did the MGA move against the dollar that day?
- From an open of 4,257 to a close of 4,288 MGA, the parallel rate moved +0.72% on Sep 28, 2026.
- What was the gap between the official and black market MGA rate on that date?
- The official rate was 4,396 MGA per USD versus a parallel close of 4,288 MGA, a premium of -2.47%.
- Was the MGA black market rate higher or lower than the day before?
- Higher: the previous observed close was 4,257 MGA on Sep 27, 2026, a change of +0.72%.
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.