Madagascar: USD exchange rate

The currency chart for Madagascar shows historical data for the Malagasy Ariarys per USD exchange rate. These are monthly averages and not end-of-month currency values. An increase means depreciation against the USD as one can exchange more Malagasy Ariarys per USD. Depreciation implies that goods from Madagascar become cheaper to export and it becomes cheaper for foreigners to visit Madagascar.

The series for Madagascar are available from July 2009 to August 2026. For that period, the average exchange rate for Madagascar was 3291.643 Malagasy Ariarys per USD with a minimum of 1922.4185 Malagasy Ariarys per USD in August 2009 and a maximum of 4710.6993 Malagasy Ariarys per USD in February 2025. The most recent available data point is 4301.4275 Malagasy Ariarys per USD, a change of 0.17% from the previous data point of 4294.1921 Malagasy Ariarys per USD and a change of -2.89% from a year ago when the level was 4429.4587 Malagasy Ariarys per USD.

Currency values in Madagascar and elsewhere have different driving forces over the short-run and the long-run. Countries may have fixed or floating exchange rate regimes or be part of monetary unions. They may experience currency crises. These and other issues are discussed in detail on our Exchange rate page.