AED to MGA

AED - United Arab Emirates Dirham (د.إ.‏)
MGA - Malagasy Ariary (Ar)
1 AED1 MGA

Currency conversion rates from AED to MGA

AEDMGA
1 AED1 MGA
5 AED5 MGA
10 AED10 MGA
20 AED20 MGA
50 AED50 MGA
100 AED100 MGA
250 AED250 MGA
500 AED500 MGA
1000 AED1000 MGA
2000 AED2000 MGA
5000 AED5000 MGA
10000 AED10000 MGA
MGAAED
1 MGA1 AED
5 MGA5 AED
10 MGA10 AED
20 MGA20 AED
50 MGA50 AED
100 MGA100 AED
250 MGA250 AED
500 MGA500 AED
1000 MGA1000 AED
2000 MGA2000 AED
5000 MGA5000 AED
10000 MGA10000 AED

AED - United Arab Emirates Dirham (د.إ)

The United Arab Emirates dirham is the currency of the United Arab Emirates. The dirham is abbreviated by the currency code AED, and its symbol is د.إ. Unofficial abbreviations include ‘Dhs’ and ‘DH’. The most popular AED exchange is with Indian rupees (INR to AED). The dirham is a fiat currency, and its conversion factor has 6 significant digits.

The Dirham (AED) is the currency of the United Arab Emirates. 1 Dirham = 100 fils. Exchange can be done at a bank, but is less costly at an exchange office. The United Arab Emirates Dirham was pegged to the IMF’s drawing rights in 1978. In 1997 the Dirham was pegged to the US Dollar at 1 USD = 3.6725 dirham.

The United Arab Emirates Dirham is the currency in United Arab Emirates (AE, ARE, UAE). The symbol for AED can be written Dh, and Dhs. The United Arab Emirates Dirham is divided into 100 fils. The exchange rate for the United Arab Emirates Dirham was last updated on Today from The International Monetary Fund. The AED conversion factor has 6 significant digits.

Economy

  • The United Arab Emirates is ranked second in the Corporation Council for the Arab States of the Gulf (CCASG).
  • Natural gas and petroleum exports play an important role in the economy.
  • The service sector is also an important source of income.
  • Construction forms a huge part of the economy; there is currently an average of $350 billion in construction projects.
  • The United Arab Emirates is part of the World Trade Organization.
  • Imports are machinery, manufactured goods, and transport equipment.
  • In 2009, 85% of exports were natural resources.
  • The United Arab Emirates has the fastest-growing economy in the world.

History

  • The original currency in the United Arab Emirates was the Bahraini Dinar.
  • Before 1966 the United Arab Emirates used the Gulf Rupee.
  • The United Arab Emirates dirham started circulating in December 1971. The dirham replaced the Dubai Riyal as well as the Qatar Riyal at par.
  • From 1973 to 1982 the United Arab Emirates issued the Dirham.
  • In 1976 the United Arab Emirates minted commemorative coins.
  • In the late 1980s a fixed rate was established between the Dirham and the USD.
  • 200-dirham denominations were produced only in 1989 and are scarce; however, the 200-dirham was re-introduced in May 2008 in a different color from the original.
  • In 1997 the Dirham was pegged to the US Dollar.

More information about AED - United Arab Emirates Dirham (د.إ)


MGA - Malagasy Ariary (MGA)

Malagasy Ariary

The Malagasy Ariary is the official currency of Madagascar. The Ariary is one of only two circulating currencies in the world whose division units are not based on a power of ten. The names Ariary is derived from the pre-colonial currency, which is a silver dollar. 1 Malagasy Franc = 0.2 Ariary.

The Malagasy Ariary is the currency in Madagascar (MG, MDG). The symbol for MGA can be written MGA. The exchange rate for the Malagasy Ariary was last updated on May 24, 2019 from Yahoo Finance. The MGA conversion factor has 5 significant digits.

Economy

  • A socialist economy in the past, since the mid-90s Madagascar has been following the policies of liberalization and privatization of the IMF and the World Bank. The county’s economy has been steadily improving from its previously low level.
  • The main economic bases for growth and development are agriculture, forestry, and fishing, which account for more than 25% of the GDP and 80% of the overall population.
  • Madagascar’s export of apparels has increased in the recent years, due to its current duty-free access to the United States.

History

  • The Ariary was introduced in 1961, replacing the Malagasy Franc at 1 Ariary = 5 Francs.
  • Since 1961, coins and banknotes have been issued in both Francs and Ariary.
  • At first, the Franc currency was more popular, but by 1978 the Ariary currency was more valued.
  • In 1993, the Ariary became still more popular when new 500 and 5,000 Ariary banknotes were released, together with 2,500 and 25,000 Franc banknotes.
  • Both Ariary and Franc banknotes were released on July 31, 2003 in prominent denominations. However, fewer Franc banknotes were printed. Lower denominations of Ariary coins were also issued in the same year.
  • On January 1, 2005, the Ariary replaced the Franc as the official currency of Madagascar.

More information about MGA - Malagasy Ariary (MGA)