Converting from Malagasy Ariary (MGA) to Belarusian New Ruble (BYN)

What is Malagasy Ariary (MGA)

The Malagasy ariary (MGA) is the official currency of Madagascar, an island nation located off the southeastern coast of Africa. The currency was introduced in 2005, replacing the former Malagasy franc at a rate of 1 ariary equal to 5 Malagasy francs. The ariary is subdivided into 5 iraimbilanja, although the latter is rarely used in everyday transactions.

The name "ariary" comes from a traditional currency unit that has been used in the region for centuries. Its symbol is usually written as "Ar." The currency comes in both coins and banknotes. Coins are available in denominations of 1, 2, 5, 10, 20, 50, and 100 ariary, while banknotes are available in 1,000, 2,000, 5,000, 10,000, 20,000, 50,000, and 100,000 ariary.

In recent years, Madagascar has faced various economic challenges, including inflation and fluctuations in the value of the ariary. As a result, exchange rates can change frequently, making it essential for anyone interested in converting MGA to foreign currencies, including the Belarusian new ruble, to stay updated on the latest rates.

What is Belarusian New Ruble (BYN)

The Belarusian new ruble (BYN) is the official currency of Belarus, a country located in Eastern Europe. It was introduced in 2016, replacing the old Belarusian ruble (BYR) at a rate of 1 new ruble equal to 10,000 old rubles. The currency’s symbol is "Br" and it is subdivided into 100 kopecks.

The Belarusian new ruble is issued in both coins and banknotes. Coins are available in denominations of 1, 2, 5, 10, 20, and 50 kopecks and 1, 2, and 5 rubles. Banknotes, meanwhile, come in denominations of 1, 5, 10, 20, 50, 100, and 200 rubles.

Belarus has a mixed economy, featuring state-owned enterprises alongside a growing private sector. This blend contributes to variations in the value of the BYN against other currencies, influenced by factors such as inflation rates and international trade dynamics.

Converting MGA to BYN

To convert Malagasy ariary (MGA) to Belarusian new ruble (BYN), you can use an exchange rate formula. Let’s denote the exchange rate as ＄E＄, where 1 MGA equals X BYN. The conversion can be expressed as:

Amount in BYN = Amount in MGA × E

Keep in mind that exchange rates fluctuate, so it is advisable to consult a reliable financial service or currency conversion tool to obtain the most accurate and up-to-date information before making a conversion.

Understanding these two currencies can enhance your travel or business transactions, especially when engaging with Madagascar or Belarus.