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Madagascar: The euro dropped below the bar of 3,000 ariarys

The Malagasy local currency continues to appreciate in late January compared against the single currency shared by 19 member states of the euro zone. The euro is currently worth around 2.945 ariarys against 3.397 ariarys in mid-November 2014.
The appreciation of the Ariary is the consequence according to economists of the actual arrival of budget aid and which resulted in an increase in foreign currency reserves in the Central Bank of Madagascar.
For its part, the dollar is exchanged today around the 2,610 ariarys against 2,727 ariarys the last mid-November.


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