Convert Eritrean Nakfa to Malagasy Ariary
Please provide values below to convert Eritrean Nakfa [ERN] to Malagasy Ariary [MGA], or Convert Malagasy Ariary to Eritrean Nakfa.
How to Convert Eritrean Nakfa to Malagasy Ariary
1 ERN = 0.00338732626008424 MGA
Example: convert 15 ERN to MGA:
15 ERN = 15 × 0.00338732626008424 MGA = 0.0508098939012636 MGA
Eritrean Nakfa to Malagasy Ariary Conversion Table
| Eritrean Nakfa | Malagasy Ariary |
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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.
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.