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Madagascar: The local currency, the ariary, strongly depreciates against the euro and the dollar




The euro is currently worth 3.109 ariary (3,000 ariary last September), while a dollar is exchanged today at 2,300 ariary (2.210 ariary in 2013).

The Malagasy currency could therefore reach in the coming months nearly 4,000 ariary per euro.
 
This depreciation would be due according to analysts at the high rate of inflation that has plagued the island and remains higher than the rate in the euro zone.
 
In January, the inflation rate reached 6.4% in Madagascar. At the same time, this figure was approximately 1% in Europe, as reported by the newspaper L'Express of Madagascar.

This depreciation would be due according to analysts at the high rate of inflation that has plagued the island and remains higher than the rate in the euro zone. I
 
n January, the inflation rate reached 6.4% in Madagascar. At the same time, this figure was approximately 1% in Europe, as reported by the newspaper L'Express of Madagascar. 



Antso Rajaona


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