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Madagascar: The local currency, the ariary, finding colors against the euro on the interbank market for foreign exchange




While the Malagasy local currency depreciated sharply for several months against the euro on the interbank market for foreign exchange, the ariary has finally recorded a small appreciation in January 2015 compared to the unique currency shared by 19 member states of the euro zone.
 
The euro is currently worth 3.105 ariarys against 3.397 ariarys in mid-November 2014.
  
The appreciation of the ariary is the result according to economists at the actual arrival of budget aid and which has attracted in its wake an increase in foreign exchange reserves in the Central Bank of Madagascar.



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