Convert MGA to INR — live rate

Convert Malagasy Ariaries to Indian Rupees and compare the real cost of sending money.

MGA
INR
1 MGA = 0.0203 INR Mid-market rate
Updated just now
Compare transfers for MGA → INR
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Historical MGA/INR exchange rate

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Rates shown are indicative mid-market rates, updated regularly.

Quick reference: MGA to INR

1 MGA 0.02 INR
5 MGA 0.10 INR
10 MGA 0.20 INR
50 MGA 1.01 INR
100 MGA 2.03 INR
500 MGA 10.14 INR
1,000 MGA 20.28 INR
5,000 MGA 101.42 INR

Real cost of MGA → INR

Banks (typical) ~2% markup
Specialists 0.3–1% markup

The rate above is the mid-market rate. Banks and providers add their margin on top.

How we calculate costs

Estimated savings

On 1,000 MGA
Bank ~£20 lost
Specialist ~£8 lost
You save ~£12

*Estimate based on typical provider rates

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Currency snapshots

MGA — Malagasy Ariary
ISO Code MGA
Central Bank Banque Centrale de Madagascar
Common Notes Ar100, Ar200, Ar500, Ar1000, Ar2000, Ar5000, Ar10000
Learn more about MGA
INR — Indian Rupee
ISO Code INR
Symbol
Central Bank Reserve Bank of India
Common Notes ₹5, ₹10, ₹20, ₹50, ₹100, ₹500, ₹1000
Learn more about INR

What affects this rate? Interest rate differentials, inflation expectations, and market risk sentiment are the primary drivers.