Convert Cayman Islands Dollar to Malagasy Ariary
Please provide values below to convert Cayman Islands Dollar [KYD] to Malagasy Ariary [MGA], or Convert Malagasy Ariary to Cayman Islands Dollar.
How to Convert Cayman Islands Dollar to Malagasy Ariary
1 KYD = 0.000188177264835213 MGA
Example: convert 15 KYD to MGA:
15 KYD = 15 × 0.000188177264835213 MGA = 0.0028226589725282 MGA
Cayman Islands Dollar to Malagasy Ariary Conversion Table
| Cayman Islands Dollar | Malagasy Ariary |
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Cayman Islands Dollar
The Cayman Islands Dollar (KYD) is the official currency of the Cayman Islands, used for all monetary transactions within the territory.
History/Origin
Introduced in 1972, the Cayman Islands Dollar replaced the Jamaican dollar at par, establishing a stable local currency for the financial sector and tourism industry.
Current Use
The KYD is widely used in the Cayman Islands for everyday transactions, banking, and international trade, and is pegged to the US dollar at a fixed rate of 1 KYD = 1.20 USD.
Malagasy Ariary
The Malagasy Ariary (MGA) is the official currency of Madagascar, used for all monetary transactions within the country.
History/Origin
The Ariary was introduced in 1961, replacing the Malagasy franc, and was initially pegged to the French franc. It was revalued in 2005, establishing the current decimal system and modernizing the currency.
Current Use
The MGA is actively used as Madagascar's legal tender, with coins and banknotes circulating throughout the country for everyday transactions and commerce.