Convert Tanzanian Shilling to Malagasy Ariary
Please provide values below to convert Tanzanian Shilling [TZS] to Malagasy Ariary [MGA], or Convert Malagasy Ariary to Tanzanian Shilling.
How to Convert Tanzanian Shilling to Malagasy Ariary
1 TZS = 0.580389268823948 MGA
Example: convert 15 TZS to MGA:
15 TZS = 15 × 0.580389268823948 MGA = 8.70583903235922 MGA
Tanzanian Shilling to Malagasy Ariary Conversion Table
| Tanzanian Shilling | Malagasy Ariary |
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Tanzanian Shilling
The Tanzanian Shilling (TZS) is the official currency of Tanzania, used for everyday transactions within the country.
History/Origin
Introduced in 1966, replacing the East African Shilling, the Tanzanian Shilling has undergone various redenominations and reforms to stabilize the economy and modernize the currency system.
Current Use
Today, the Tanzanian Shilling is widely used in Tanzania for all forms of financial transactions, including cash payments, banking, and trade, and is managed by the Bank of Tanzania.
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.