MGA black market rate on Oct 16, 2026: 4,326 per USD
On Friday, October 16, 2026, the US dollar traded at about 4,326 MGA on Madagascar's parallel (black) market at the close of observations. The day opened at 4,300 MGA, reached a high of 4,396 and a low of 4,275, a trading range of 120.97 MGA (2.83%).
Across 288 observations, the average price to buy dollars was 4,360 MGA and the average price received when selling dollars was 4,493 MGA. Over the session the Malagasy Ariary weakened against the dollar (+0.61% from open to close).
Official rate vs black market rate on Oct 16, 2026
The official exchange rate published for Madagascar on this date was 4,520 MGA per USD. The parallel-market close of 4,326 MGA therefore implied a premium of -4.29% over the official rate — a discount to the official rate, which is unusual and often reflects thin or one-sided quotes.
How Oct 16, 2026 compares
Compared with the previous observed day (Oct 15, 2026, close 4,300 MGA), the rate moved +0.61%.
One week earlier (Oct 9, 2026) the close was 4,300 MGA, so the weekly change was +0.61%.
Thirty days earlier (Sep 16, 2026) the close was 4,176 MGA, a +3.61% 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 Oct 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 Oct 16, 2026?
- The USD to MGA parallel market rate closed at approximately 4,326 MGA per US dollar on Friday, October 16, 2026, after trading between 4,275 and 4,396 MGA.
- How much did the MGA move against the dollar that day?
- From an open of 4,300 to a close of 4,326 MGA, the parallel rate moved +0.61% on Oct 16, 2026.
- What was the gap between the official and black market MGA rate on that date?
- The official rate was 4,520 MGA per USD versus a parallel close of 4,326 MGA, a premium of -4.29%.
- Was the MGA black market rate higher or lower than the day before?
- Higher: the previous observed close was 4,300 MGA on Oct 15, 2026, a change of +0.61%.
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.