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Madagascar: The ariary appreciates against the euro and the dollar

While the Malagasy local currency depreciated sharply for several months against the euro and the dollar on the interbank currency market, the ariary has finally recorded a slight appreciation in this end of year 2014.
The euro is currently worth 3.204 ariarys (3397 ariarys in mid-November), while the dollar is trading at 2,607 ariary (2727 ariarys in mid-November).
This assessment of the Malagasy local currency is due according to financial analysts to export campaigns of litchis and vanilla on foreign markets.


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