Madagascar Exchange Rate
Official exchange rate (LCU per US$, period average) PA.NUS.FCRF
Madagascar's exchange rate was 4,756.25 in 2025, ranked 8th globally. This represents a 5.1% increase from 2024. Data from World Bank, covering 1960–2025.
Overview
Madagascar's exchange rate stood at 4,756.25 in 2025, a rise of +230.83 from 2024. Based on recent trends, this figure is projected to reach 4,756.25 by 2025. Madagascar ranked 8th globally.
Madagascar’s exchange rate has risen dramatically over the 66‑year series, moving from a modest 49.37 units per US dollar in 1960 to an all‑time peak of 4,756.25 in 2025, the eighth‑highest level globally. The trough of 42.26 recorded in 1980 marks the lowest point before a sustained depreciation that accelerated in the 2000s, reflecting persistent balance‑of‑payments deficits, limited foreign‑exchange earnings and periodic political instability. The latest 2025 figure of 4,756.25 underscores the cumulative impact of these structural weaknesses, positioning Madagascar alongside peers such as Colombia, whose 2025 rate of 4,422.03 places it slightly lower in the same ranking band. While the long‑term trajectory has been upward, a shift toward fiscal consolidation, diversification of export markets and stronger monetary policy credibility could temper future depreciation and potentially stabilise the currency at a more sustainable level.
Data & projection
| Year | Exchange Rate | YoY change | Rank |
|---|---|---|---|
| 2027* trend | 5,171.24 | - | - |
| 2026* trend | 4,963.75 | - | - |
| 2025* trend | 4,756.25 | - | - |
| 2025 | 4,756.25 | +230.83 | #8 |
| 2024 | 4,525.42 | +95.85 | #190 |
| 2023 | 4,429.58 | +333.46 | #196 |
| 2022 | 4,096.12 | +266.14 | #197 |
| 2021 | 3,829.98 | +42.22 | #198 |
| 2020 | 3,787.75 | +169.43 | #199 |
| 2019 | 3,618.32 | +283.57 | #197 |
| 2018 | 3,334.75 | +218.64 | #197 |
| 2017 | 3,116.11 | −60.43 | #197 |
| 2016 | 3,176.54 | +243.03 | #198 |
| 2015 | 2,933.51 | +518.70 | #198 |
| 2014 | 2,414.81 | +207.90 | #198 |
| 2013 | 2,206.91 | +11.95 | #198 |
| 2012 | 2,194.97 | +169.85 | #197 |
| 2011 | 2,025.12 | −64.83 | #197 |
Detected Pattern
Analysis
Madagascar matched the Export Boom Cycle pattern in 2016. Historically, 71% of countries showing this pattern (546 out of 768) saw exchange rate improve within 24 months. View full analysis →
Frequently Asked Questions
Madagascar's exchange rate was 4,756.25 in 2025. Ranked 8th globally. This represents a 5.1% increase from the previous year.
Madagascar's exchange rate peaked at 4,756.25 in 2025.
The lowest exchange rate in Madagascar was 42.26 in 1980.
Madagascar ranks 8th globally in exchange rate as of 2025.
The World Bank indicator code is PA.NUS.FCRF. Data sourced from World Bank.
Madagascar's exchange rate is projected to reach 4,756.25 by 2025 based on trend extrapolation.
The exchange rate of Madagascar in 2025 was 4,756.25. This ranks 8th in the world.
Cite this page
@misc{historysaid_madagascar_exchange-rate,
title = {Madagascar Exchange Rate},
url = {https://historysaid.com/madagascar/exchange-rate/},
publisher = {HistorySaid},
year = {2026}
}