MGA to PEN Exchange Rate - Convert Malagasy ariary to Peruvian Nuevo Sol
MGA to PEN Exchange Rate - Convert Malagasy ariary to Peruvian Nuevo Sol
Converting from Malagasy Ariary (MGA) to Peruvian Nuevo Sol (PEN)
What is Malagasy Ariary (MGA)
The Malagasy ariary (MGA) is the official currency of Madagascar, an island country located off the southeast coast of Africa. The ariary was introduced in 2005 to replace the Malagasy franc, which had been in use for many years. The name "ariary" comes from a term meaning "one."
The currency is subdivided into five iraimbilanja, though these smaller units are rarely used in everyday transactions. The ariary plays a significant role in the economy of Madagascar, where cash transactions dominate due to limited access to banking facilities in rural areas.
The Central Bank of Madagascar is responsible for issuing the currency and regulating its value. The exchange rate of the Malagasy ariary fluctuates based on various economic factors, such as inflation rates, foreign reserves, and trade balances. As a result, travelers and businesses often need to keep an eye on the exchange rate when dealing with this currency.
What is Peruvian Nuevo Sol (PEN)
The Peruvian Nuevo Sol (PEN) is the official currency of Peru, a country located on the western coast of South America. The nuevo sol was introduced in 1991, replacing the old sol at a rate of 1 nuevo sol for every 1,000 old soles due to hyperinflation. The term "nuevo" means "new" in Spanish, reflecting its purpose to stabilize the economy and restore public confidence in the financial system.
The nuevo sol is sub-divided into 100 céntimos and is available in both coins and banknotes. The Central Reserve Bank of Peru manages the issuance and regulation of the nuevo sol, ensuring its stability against inflation and that it remains a trusted medium of exchange.
As the Peruvian economy has been growing steadily over the past few decades, the nuevo sol has become increasingly recognized in international markets. It is essential for travelers and businesses to understand the current exchange rate between PEN and other currencies, especially the Malagasy ariary, which may be used by those traveling between Madagascar and Peru.
Converting MGA to PEN
When converting from Malagasy ariary (MGA) to Peruvian nuevo sol (PEN), it is vital to know the current exchange rate. The exchange rate is typically available through financial websites or currency conversion apps and can sometimes fluctuate significantly.
For example, if the exchange rate is approximately ＄1 PEN = 1,800 MGA＄, you can use this information to convert amounts. If you have 18,000 MGA, you can calculate it as follows:
Equivalent in PEN = (18,000 MGA/1,800 MGA/PEN) = 10 PEN
Understanding these two currencies and their conversion can aid individuals in traveling or conducting business in these distinct regions.
Malagasy ariary to Peruvian Nuevo Sol conversion table
MGA to PEN conversion table
| Malagasy ariary (MGA) | Peruvian Nuevo Sol (PEN) |
|---|---|
| 1 MGA | 0.00082117266 PEN |
| 2 MGA | 0.00164234531 PEN |
| 3 MGA | 0.00246351797 PEN |
| 4 MGA | 0.00328469062 PEN |
| 5 MGA | 0.00410586328 PEN |
| 6 MGA | 0.00492703593 PEN |
| 7 MGA | 0.00574820859 PEN |
| 8 MGA | 0.00656938124 PEN |
| 9 MGA | 0.0073905539 PEN |
| 10 MGA | 0.00821172656 PEN |
| 100 MGA | 0.08211726555 PEN |
| 200 MGA | 0.16423453111 PEN |
| 300 MGA | 0.24635179666 PEN |
| 400 MGA | 0.32846906222 PEN |
| 500 MGA | 0.41058632777 PEN |
| 600 MGA | 0.49270359332 PEN |
| 700 MGA | 0.57482085888 PEN |
| 800 MGA | 0.65693812443 PEN |
| 900 MGA | 0.73905538999 PEN |
| 1 000 MGA | 0.82117265554 PEN |
| 2 000 MGA | 1.64234531108 PEN |
| 5 000 MGA | 4.1058632777 PEN |
| 10 000 MGA | 8.21172655539 PEN |
| 20 000 MGA | 16.42345311078 PEN |
| 50 000 MGA | 41.05863277696 PEN |
| 100 000 MGA | 82.11726555392 PEN |