Convert Cuban Peso to Malagasy Ariary
Please provide values below to convert Cuban Peso [CUP] to Malagasy Ariary [MGA], or Convert Malagasy Ariary to Cuban Peso.
How to Convert Cuban Peso to Malagasy Ariary
1 CUP = 0.00541972201613478 MGA
Example: convert 15 CUP to MGA:
15 CUP = 15 × 0.00541972201613478 MGA = 0.0812958302420217 MGA
Cuban Peso to Malagasy Ariary Conversion Table
| Cuban Peso | Malagasy Ariary |
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Cuban Peso
The Cuban Peso (CUP) is the official currency of Cuba, used for everyday transactions within the country.
History/Origin
The Cuban Peso has been the official currency of Cuba since 1960, replacing the Cuban peso convertible (CUC) as the primary currency after the monetary reforms. It has undergone various changes in value and design over the years, reflecting Cuba's economic policies and relations.
Current Use
Today, the Cuban Peso is used mainly for domestic transactions, while the CUC is used for tourism and foreign trade. The CUP remains an essential part of Cuba's monetary system, with recent reforms aiming to unify the currency system.
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.