LocalExchangeRates.com

Official Rate Sheet: Indian Rupee (INR) / Malagasy Ariary (MGA)

Date generated:

Mid-Market Rate: 1 INR = 45.8526 MGA

Real-Time Interbank Wholesale Feed: October 6, 2026

Indian Rupee to Malagasy Ariary Exchange Rate (INR to MGA)

Real-time mid-market wholesale rate with zero retail markup. Check benchmark pricing before bank conversion or international wire transfer.

Bottom Line Up Front (BLUF): How much is 1,000 INR in MGA?

1 INR = 45.8526 MGA

At the current mid-market wholesale exchange rate, converting 1,000 Indian Rupee (INR) yields approximately 45,852.58 Malagasy Ariary (MGA) (inverse rate: 1 MGA = 0.0218 INR). This rate represents the pure interbank benchmark. Retail dealers and commercial banks typically apply a commercial spread between 1.5% and 3.5%. View live calculations, historical charts, and provider spreads below.

You Pay (Amount): INR

You Receive (Estimate): MGA

Wycena na podstawie średniego kursu międzybankowego (0,00% marży)

Kurs rynkowy: 1 INR = 45.8526 MGA

Kurs odwrotny: 1 MGA = 0.0218 INR

Status danych: Live Data (Redis)

Looking for reverse calculation? Check MGA to INR (Malagasy Ariary to Indian Rupee) Live Converter →

INR to MGA Real-Time & Historical Rate Chart

Track historical volatility and key price support levels for Indian Rupee against Malagasy Ariary

Period High

46.4028 MGA

Period Low

45.3023 MGA

Volatility / Avg

45.8526 MGA

Mid-Market Trend

+0.25%

30-Day Range (1M) Position: 50% range

Min: 45.3023 MGA

Max: 46.4028 MGA

52-Week Range (1Y) Current Position: 65% Range

Min: 44.2477 MGA

Max: 47.4574 MGA

Standard Denomination Conversion Matrix (INR & MGA)

Wholesale interbank rate matrix with zero retail markup or hidden fees.

Indian Rupee → Malagasy Ariary (INR / MGA)

Wholesale Benchmark

Indian Rupee (INR)	Malagasy Ariary (MGA)
1 INR	45.85 MGA
5 INR	229.26 MGA
10 INR	458.53 MGA
25 INR	1,146.31 MGA
50 INR	2,292.63 MGA
100 INR	4,585.26 MGA
200 INR	9,170.52 MGA
250 INR	11,463.14 MGA
500 INR	22,926.29 MGA
1,000 INR	45,852.58 MGA
2,500 INR	114,631.44 MGA
5,000 INR	229,262.89 MGA
10,000 INR	458,525.78 MGA

Malagasy Ariary → Indian Rupee (MGA / INR)

Wholesale Benchmark

Malagasy Ariary (MGA)	Indian Rupee (INR)
1 MGA	0.02 INR
5 MGA	0.11 INR
10 MGA	0.22 INR
25 MGA	0.55 INR
50 MGA	1.09 INR
100 MGA	2.18 INR
200 MGA	4.36 INR
250 MGA	5.45 INR
500 MGA	10.90 INR
1,000 MGA	21.81 INR
2,500 MGA	54.52 INR
5,000 MGA	109.05 INR
10,000 MGA	218.09 INR

Provider / Channel	INR/MGA Effective Exchange Rate	Estimated Fee	Estimated Received (MGA)	Effective Difference
⚡ LocalExchangeRates Interbank Wholesale (Pure Benchmark)	45.8526 MGA	0.00%	229,262.89 MGA	Benchmark (0%)
🏦 Major Commercial High-Street Banks Standard bank wire / counter transfer	44.2477 MGA	~3.50%	221,238.69 MGA	-8,024.20 MGA
✈️ Airport Currency Exchange Kiosks Airport terminal cash counters	41.2673 MGA	~10.00%	206,336.60 MGA	-22,926.29 MGA

1 INR to MGA: Indian Rupee to Malagasy Ariary Exchange Guide

Searches for 1 INR to MGA or convert INR to MGA describe the amount of Malagasy Ariary received per 1 Indian Rupee. At today's wholesale baseline of 1 INR = 45.8526 MGA (inverse: 1 MGA = 0.0218 INR), understanding retail bank margins helps protect your funds:

🌏 International Transfers & Travel (India ↔ Madagascar)

Whether remitting money internationally or budgeting for travel, benchmark retail bank quotes against the wholesale mid-market rate to avoid excessive markups.

🏦 Commercial Bank Spreads

Major commercial banks typically add markups between 1.5% and 3.5% on foreign currencies, whereas digital multi-currency accounts operate with tighter margins.

📈 Monetary Policy Drivers

Interest rate decisions and monetary policies set by Reserve Bank of India (RBI) and Central Bank of Madagascar (BFM) shape the medium-to-long term valuation of INR/MGA.

INR and MGA Currency Profiles

Official monetary framework, central bank governance, and banknote specifications for India and Madagascar.

How the INR to MGA Exchange Rate Works

Foreign exchange transactions between India (INR) and Madagascar (MGA) trade continuously on global wholesale interbank currency markets. The mid-market rate represents the exact mathematical midpoint between institutional buy (bid) and sell (ask) quotes without retail dealer markups.

Key considerations when converting or transferring between INR and MGA:

Banking Channel Selection: Digital banking transfers and specialized multi-currency accounts generally offer exchange margins of 0.2% to 0.8%, whereas airport physical cash booths frequently charge 8% to 12% over the interbank baseline.
Central Bank Oversight & Policy: Monetary policy decisions, policy interest rate differentials, and currency reserves managed by Reserve Bank of India (RBI) and Central Bank of Madagascar (BFM) serve as the primary long-term drivers for this currency pair.
Customs Cash Declaration Thresholds: Travelers carrying banknotes or negotiable instruments between India and Madagascar exceeding equivalent to 10,000 USD or EUR are legally required to file written declarations with border authorities.
Avoid Dynamic Currency Conversion (DCC): When using payment cards abroad or withdrawing cash from ATMs, always elect to be billed in the local currency (MGA) rather than your home billing currency to bypass costly DCC conversion markups.

LocalExchangeRates aggregates real-time wholesale interbank benchmarks to provide users with transparent, independent currency valuation.

Frequently Asked Questions: Indian Rupee to Malagasy Ariary Conversion

Common questions regarding Indian Rupee to Malagasy Ariary conversion, bank spreads, and transfer costs.

How much is 1,000 INR in MGA today?

At the current mid-market exchange rate (1 INR = 45.8526 MGA), 1,000 Indian Rupee equals approximately 45,852.58 Malagasy Ariary. Retail exchange bureaus and commercial banks typically apply a 1.5% to 3.5% transaction spread.

Where can I get the best exchange rate for Indian Rupee?

To secure the best rates, avoid airport currency kiosks which routinely apply markups exceeding 8% to 12%. Converting currency at major commercial banks or using a low-fee multi-currency card typically delivers the closest rate to the mid-market benchmark.

Are there cash declaration limits when traveling with INR?

Most international customs jurisdictions mandate a formal declaration when carrying physical cash or negotiable instruments exceeding the equivalent of 10,000 USD or EUR. Check with local customs authority (Reserve Bank of India (RBI)) prior to departure.

Does the exchange rate fluctuate during weekends?

Global interbank foreign exchange markets close on Friday evening (5:00 PM EST) and reopen on Sunday evening. Over the weekend, rates remain static at the Friday close, though retail providers may widen spreads to offset volatility risks.

How is the mid-market exchange rate calculated?

The mid-market exchange rate is the exact midpoint between global wholesale institutional buy (bid) and sell (ask) quotes. It serves as the global benchmark without any added retail broker or banking markup.