1 MGA to TOP - Convert Malagasy Ariary to Tongan Pa'anga

Looking at the 30-day window, the MGA/TOP pair traded in a range of 0.000500 to 0.000600. The monthly average was 0.000592 with 4.22% volatility. This downward movement of 5.7% suggests significant momentum in the MGA/TOP exchange rate.

The current mid-market exchange rate is 1 MGA = 0.000561 TOP, updated as of July 3, 2026, 11:27 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 Tongan Pa'anga Exchange Rate

The MGA/TOP exchange rate tells you how many Tongan Pa'anga (TOP) you receive for every Malagasy Ariary (MGA). At the current mid-market rate of 1 MGA = 0.000561 TOP, 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.

Understanding the MGA/TOP Conversion

Converting Malagasy Ariary to Tongan Pa'anga involves the mid-market rate, which represents the midpoint between what buyers are willing to pay and what sellers are asking. Banks and money transfer services typically add a markup of 1-4% above this rate. By checking the live mid-market rate on this page before making any conversion, you can evaluate how competitive any quoted rate truly is and avoid paying more than necessary for your currency exchange.

What Affects the MGA to TOP Rate

Exchange rates between Malagasy Ariary and Tongan Pa'anga 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/TOP 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 TOP and other currencies.

Reverse Rate: TOP to MGA

The reverse exchange rate is 1 TOP = 1,782.53 MGA. This is useful if you are starting with Tongan Pa'anga 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 TOP to MGA converter for the reverse direction.