Convert Malagasy Ariary to Eritrean Nakfa
Please provide values below to convert Malagasy Ariary [MGA] to Eritrean Nakfa [ERN], or Convert Eritrean Nakfa to Malagasy Ariary.
How to Convert Malagasy Ariary to Eritrean Nakfa
1 MGA = 295.218093333333 ERN
Example: convert 15 MGA to ERN:
15 MGA = 15 × 295.218093333333 ERN = 4428.2714 ERN
Malagasy Ariary to Eritrean Nakfa Conversion Table
| Malagasy Ariary | Eritrean Nakfa |
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Malagasy Ariary
The Malagasy Ariary (MGA) is the official currency of Madagascar, used for all monetary transactions within the country.
History/Origin
The Ariary was introduced in 1961, replacing the Malagasy franc, and was initially pegged to the French franc. It was revalued in 2005, establishing the current decimal system and modernizing the currency.
Current Use
The MGA is actively used as Madagascar's legal tender, with coins and banknotes circulating throughout the country for everyday transactions and commerce.
Eritrean Nakfa
The Eritrean Nakfa (ERN) is the official currency of Eritrea, used for all monetary transactions within the country.
History/Origin
The Nakfa was introduced in 1997, replacing the Ethiopian Birr as Eritrea's national currency, to establish economic independence and stabilize the economy after independence in 1993.
Current Use
The ERN is actively used as the primary currency in Eritrea for everyday transactions, banking, and trade, with its value regulated by the country's central bank.