1 MGA to PAB - Convert Malagasy Ariary to Panamanian Balboa

Looking at the 30-day window, the MGA/PAB pair traded in a range of 0.000200 to 0.000238. The monthly average was 0.000201 with 3.34% volatility. This upward movement of 19% suggests significant momentum in the MGA/PAB exchange rate.

The current mid-market exchange rate is 1 MGA = 0.000234 PAB, updated as of July 3, 2026, 10:59 PM 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 Panamanian Balboa Exchange Rate

The MGA/PAB exchange rate tells you how many Panamanian Balboa (PAB) you receive for every Malagasy Ariary (MGA). At the current mid-market rate of 1 MGA = 0.000234 PAB, 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 PAB Rate

Exchange rates between Malagasy Ariary and Panamanian Balboa 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/PAB rate fluctuates throughout trading sessions and over longer time periods.

How to Get the Best MGA to PAB Rate

To minimize conversion costs, compare the rate offered by your bank or transfer service against the mid-market rate shown on this page. Online money transfer services and fintech apps often provide rates 2-3% better than traditional banks. For larger amounts, the savings from finding a competitive rate can be substantial. Always check the total cost including both the exchange rate markup and any fixed fees charged by the provider.

Panamanian Balboa Overview

The Panamanian Balboa (PAB) is the official currency of Panama, pegged at par to the US Dollar. Panama Canal revenue, banking, and logistics drive the economy. The PAB exchange rate against MGA reflects relative economic conditions between the two currency areas.

Reverse Rate: PAB to MGA

The reverse exchange rate is 1 PAB = 4,273.50 MGA. This is useful if you are starting with Panamanian Balboa 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 PAB to MGA converter for the reverse direction.