1 RWF to MGA - Convert Rwandan Franc to Malagasy Ariary

Looking at the 30-day window, the RWF/MGA pair traded in a range of 2.7339 to 2.9277. The monthly average was 2.8401 with 1.61% volatility. This downward movement of 2.4% suggests significant momentum in the RWF/MGA exchange rate.

The current mid-market exchange rate is 1 RWF = 2.9104 MGA, updated as of July 3, 2026, 11:10 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.

Rwandan Franc to Malagasy Ariary Exchange Rate

The RWF/MGA exchange rate tells you how many Malagasy Ariary (MGA) you receive for every Rwandan Franc (RWF). At the current mid-market rate of 1 RWF = 2.9104 MGA, 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 RWF to MGA Rate

Exchange rates between Rwandan Franc and Malagasy Ariary 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 RWF/MGA rate fluctuates throughout trading sessions and over longer time periods.

Sending Money from RWF to MGA

International money transfers from Rwandan Franc to Malagasy Ariary can be made through banks, online transfer services, or specialist forex brokers. Transfer times range from instant to several business days depending on the corridor and provider. Online services like Wise, Revolut, and OFX typically offer better rates and lower fees than traditional bank wire transfers, though availability varies by country and currency pair.

Rwandan Franc Overview

The Rwandan Franc (RWF) is the official currency of Rwanda. The country's remarkable economic transformation and growing services sector support the currency. Understanding the fundamentals behind RWF helps contextualize its exchange rate movements against MGA and other currencies.

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. The MGA exchange rate against RWF reflects relative economic conditions between the two currency areas.