News
BBCSwinney defends food prices policy ahead of first minister vote·Economic TimesIndia fuel price hike among world's lowest: BJP·SCMPSome Asian airlines could collapse like Spirit without help on rising fuel costs·SCMPTexans accuse Japan of doing ‘deal with the devil’ by funding US fossil fuel projects·SCMPHong Kong property upswing poised to hold despite interest rates risk: Moody’s·SCMPCuba warns of ‘bloodbath’ if US attacks as Washington expands sanctions·NYTOil Prices Climb and Bonds Falter as Iran War Raises Inflation Fears·NYTG7 Finance Ministers Look to Contain Iran Economic Fallout·BBCSwinney defends food prices policy ahead of first minister vote·Economic TimesIndia fuel price hike among world's lowest: BJP·SCMPSome Asian airlines could collapse like Spirit without help on rising fuel costs·SCMPTexans accuse Japan of doing ‘deal with the devil’ by funding US fossil fuel projects·SCMPHong Kong property upswing poised to hold despite interest rates risk: Moody’s·SCMPCuba warns of ‘bloodbath’ if US attacks as Washington expands sanctions·NYTOil Prices Climb and Bonds Falter as Iran War Raises Inflation Fears·NYTG7 Finance Ministers Look to Contain Iran Economic Fallout·
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MGA

Malagasy Ariary

MGA · Madagascar

43
Moderate
Risk
Historical Scores
404549Jul 2021Jul 2023May 2026
What does this mean for you?

The Malagasy Ariary is in decent shape overall, scoring 43 out of 100. There are some areas to watch, but no immediate danger. Your money is holding its value reasonably well compared to most currencies.

You need at least 9.1%/yr returns. Money in a basic account is slowly losing value. Calculator ↓

Inflation
7.6%
Debt / GDP
Not available
GDP Growth
4.2%
FX Volatility
21.4
Governance
Not available
Reserves
5.5 mo
Analysis
What's working well
Economy is growing healthily
What to watch out for
Restrictions on moving your money out of the country
Full Madagascar analysis →

Savings Impact Calculator

MGA
Holding cash in MGA7.6% inflation
MGA 693−MGA 307 (31% purchasing power lost)
Your MGA 1,000 buys 31% less in 5 years
What if you invested MGA 1,000 instead? (5yr, in MGA terms)
USD-denominated assets gain an additional ~4.6%/yr from expected MGA depreciation vs USD
Hold USD Cash
MGA 1083
+MGA 83
+1.6%/yr net in MGA
S&P 500
MGA 1978
+MGA 978
range: MGA 933–MGA 3801
10% USD return + 4.6% FX · ±16% vol
Gold
MGA 1811
+MGA 811
range: MGA 546–MGA 4758
8% USD return + 4.6% FX · ±24% vol
Bitcoin
MGA 3658
+MGA 2658
range: MGA 247–MGA 20.9k
25% USD return + 4.6% FX · ±54% vol

All values in MGA. USD-denominated assets (S&P 500, Gold, Bitcoin) include an estimated FX gain of ~4.6%/yr based on the inflation differential between Madagascar (7.6%) and the US (~3%). This uses purchasing power parity as a long-run approximation — actual FX movements can differ significantly in the short term. S&P 500 based on 1957-2024, Gold on 2000-2024, Bitcoin on 2015-2024. Past performance does not guarantee future results. Not financial advice.

Holding other assets too? Calculate your full portfolio risk →
This score is based on our 12-factor risk model. Think inflation or debt should matter more? Build your own model with custom weights and see how MGA ranks differently.
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