Malagasy Ariary
Fiat currency used across payment methods, banks, and markets on Processed.
Exchange rates
Baselines versus USD and EUR
Update time unknown
US Dollar
Rate unavailable
Euro
Rate unavailable
Countries using MGA
Markets where this is an official or listed currency.
Payment methods supporting MGA
Methods that list this currency in their coverage.
e-Ariary (CBDC Pilot)
The e-Ariary is Madagascar's official digital currency, piloted nationwide from May 2025. It aims to simplify daily transactions, reduce cash dependence, and expand financial access in rural areas where mobile money penetration remains limited.
Airtel Money
Airtel Money is Kenya's second-largest mobile money provider, holding approximately 6.6% market share as of 2024 (up from 2.8%). It operates similarly to M-Pesa and enables money transfers, bill payments, and merchant payments via USSD and the Airtel Money app.
Mvola (Telma)
Mvola is one of Madagascar's leading mobile money services, operated by Telma (the largest private telecom). It provides P2P transfers, bill payments, merchant payments, and airtime top-up services. Accessible via USSD for feature phone users.
Banks supporting MGA
Banks that list this currency in their coverage.
