1 MGA to JMD - Convert Malagasy Ariary to Jamaican Dollar

Looking at the 30-day window, the MGA/JMD pair traded in a range of 0.036800 to 0.039300. The monthly average was 0.038141 with 2.04% volatility. This downward movement of 2.2% suggests significant momentum in the MGA/JMD exchange rate.

The current mid-market exchange rate is 1 MGA = 0.036811 JMD, updated as of July 3, 2026, 6:23 AM UTC. Mid-market rates represent the fairest available rate and are the midpoint between buy and sell prices on global currency markets. Actual transaction rates from banks or money transfer services may include a markup above this rate.

Malagasy Ariary to Jamaican Dollar Exchange Rate

The MGA/JMD exchange rate tells you how many Jamaican Dollar (JMD) you receive for every Malagasy Ariary (MGA). At the current mid-market rate of 1 MGA = 0.036811 JMD, this pair reflects live supply and demand conditions on the global foreign exchange market. The rate updates every 15 minutes on this page, giving you the most current data available.

What Affects the MGA to JMD Rate

Exchange rates between Malagasy Ariary and Jamaican Dollar are influenced by central bank interest rate decisions, inflation differentials, trade balances, and broader economic data releases from both countries. Political stability, commodity prices, and global risk sentiment can also cause significant moves. Monitoring these factors helps explain why the MGA/JMD rate fluctuates throughout trading sessions and over longer time periods.

Malagasy Ariary Overview

The Malagasy Ariary (MGA) is the official currency of Madagascar. Vanilla production (Madagascar produces 80% of the world's supply), mining, and tourism drive the economy. Understanding the fundamentals behind MGA helps contextualize its exchange rate movements against JMD and other currencies.

Jamaican Dollar Overview

The Jamaican Dollar (JMD) is the official currency of Jamaica. Tourism, remittances, and bauxite mining are the primary sources of foreign exchange. The JMD exchange rate against MGA reflects relative economic conditions between the two currency areas.

Mid-Market Rate Explained

The mid-market rate of 1 MGA = 0.036811 JMD shown on this page is the fairest available exchange rate. It sits exactly between the buy and sell prices quoted by major financial institutions. No single provider can offer exactly the mid-market rate since their business model requires a small spread, but the best providers come within 0.5-1% of this benchmark. Use our rate as your comparison baseline.

Reverse Rate: JMD to MGA

The reverse exchange rate is 1 JMD = 27.1658 MGA. This is useful if you are starting with Jamaican Dollar and want to know how much Malagasy Ariary you will receive. Both the forward and reverse rates update simultaneously every 15 minutes on this page. You can also visit our dedicated JMD to MGA converter for the reverse direction.