Currency · Live data
Malagasy Ariary
MGAMadagascar · Issued by Banky Foiben'i Madagasikara
Price (USD)
—
Inflation (2024)
+7.61%
10y M2 change
—
M69 Score
49.8
Market Cap (USD)
—
M2 source: World Bank
M2 (local currency)
—
broad money
CPI YoY (2024)
+7.61%
World Bank · annual
Country
Madagascar
ISO 4217 · MGA
Last Update
2026-04-25
Daily ingest · 02:00 UTC
Malagasy Ariary M2 money supply
Broad money in MGA (cash + deposits + close substitutes), annual back to ~1960 via World Bank FM.LBL.BMNY.CN. Log scale auto-engages for hyperinflation outliers.
No M2 history available yet for MGA. World Bank coverage may be limited for this currency — direct central-bank feeds in a future release.
Malagasy Ariary inflation history
Annual CPI YoY since 2001 — World Bank consumer price index for Madagascar. Inflation volatility is one of three inputs into the Money2069 sound-money score.
Purchasing power calculator
How much would your Malagasy Ariary be worth today if you'd held it since…?
100 MGA in 2001 buys today
0.39 MGAworth of goods
Lost 100% of purchasing power since 2001.
To match 2001 purchasing power, you need today
25,967.16 MGA
69 years of cumulative inflation.
Calculation: cumulative product of (1 + CPI YoY) from the chosen year through 2024. Source: World Bank consumer price index (annual). Daily-refreshed.
Data sources & methodology
- FX (USD):
- Frankfurter / ECB · daily
- CPI YoY:
- World Bank FP.CPI.TOTL.ZG · annual
- M2 broad money:
- World Bank FM.LBL.BMNY.CN · annual (LCU)
- Market cap (USD):
- M2 / FX rate · daily
- 10-year M2 change:
- (M2 today / M2 10y ago) − 1
- M69 score:
- Weighted: CPI (50%), 10y M2 growth (40%), 1y FX stability (10%)
- Last fetched:
- 2026-04-25 16:11:00
- Country code (ISO 3166-1):
- MDG
Raw data: /api/v1/currencies/current/MGA
Frequently asked questions
Who issues the Malagasy Ariary?+
The Malagasy Ariary (MGA) is issued by Banky Foiben'i Madagasikara. As the monetary authority for Madagascar, it sets policy interest rates, manages foreign reserves, and controls the money supply.
What is the inflation rate of the Malagasy Ariary?+
Latest available consumer price inflation for the Malagasy Ariary: 7.61% YoY (2024). Source: World Bank annual series (FP.CPI.TOTL.ZG). Daily-refreshed historical chart on this page.
Has the Malagasy Ariary been debased?+
Every fiat currency loses purchasing power over time as central banks expand the money supply. broad-money data is being added in our next release. Combined with cumulative inflation, this is the gap between MGA as accounting unit and MGA as a store of value.
Is the Malagasy Ariary sound money?+
On the Money2069 0–100 sound-money scale, the Malagasy Ariary currently scores 49.8. The score weights inflation volatility, 10-year money-supply growth, and 1-year FX stability. Higher = closer to sound. No fiat scores 100 because no fiat has zero issuance.
How does the Malagasy Ariary compare to gold or the US dollar?+
Use the table on the listing page to sort all 138 tracked currencies by inflation, 10-year M2 change, or M69 score. Pegged currencies (USD-pegged dirham, riyal, etc.) inherit the dollar's debasement profile; floating currencies tell their own story.
How often is this data updated?+
We pull fresh exchange rates daily from Frankfurter (ECB-sourced) and refresh the inflation series from the World Bank. The page is statically rendered with 24-hour ISR. Source data is publicly accessible via our /api/v1/currencies endpoints.