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About this currency pair
Malagasy Ariary (MGA) — the currency of Madagascar
The ariary is unusual because it is historically divided into five iraimbilanja rather than following the more common 100-subunit pattern. The Malagasy Ariary is used in Madagascar, where it provides the reference for local prices, wages, public payments, bank accounts and invoices. Conversions are commonly used for remittances, import pricing, travel, development projects, commodity trade and comparisons with USD, EUR or regional currencies. For conversion pages, MGA is useful when translating local prices into major reference currencies or comparing historical and current market values.
Euro (EUR) — the shared currency of the eurozone
The euro is the shared currency of the eurozone, used across many European economies rather than a single country. It was introduced for accounting and electronic payments in 1999 and euro cash followed in 2002, making it a common reference for travel, online shopping, invoices, salaries, savings and cross-border business inside Europe. It is also one of the main currencies followed in global foreign-exchange markets.