Convert Malagasy Ariary to Peruvian Nuevo Sol
Please provide values below to convert Malagasy Ariary [MGA] to Peruvian Nuevo Sol [PEN], or Convert Peruvian Nuevo Sol to Malagasy Ariary.
How to Convert Malagasy Ariary to Peruvian Nuevo Sol
1 MGA = 1244.70062118785 PEN
Example: convert 15 MGA to PEN:
15 MGA = 15 × 1244.70062118785 PEN = 18670.5093178177 PEN
Malagasy Ariary to Peruvian Nuevo Sol Conversion Table
| Malagasy Ariary | Peruvian Nuevo Sol |
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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.
Peruvian Nuevo Sol
The Peruvian Nuevo Sol (PEN) is the official currency of Peru, used for all monetary transactions within the country.
History/Origin
Introduced in 1991 to replace the Peruvian Sol, the Nuevo Sol was established to stabilize the economy and control inflation. It has undergone several reforms and is now the stable currency of Peru.
Current Use
The Nuevo Sol is widely used in everyday transactions, banking, and financial markets in Peru. It is subdivided into 100 céntimos and remains the country's primary legal tender.