Convert Cape Verdean Escudo to Malagasy Ariary
Please provide values below to convert Cape Verdean Escudo [CVE] to Malagasy Ariary [MGA], or Convert Malagasy Ariary to Cape Verdean Escudo.
How to Convert Cape Verdean Escudo to Malagasy Ariary
1 CVE = 0.0212244669556613 MGA
Example: convert 15 CVE to MGA:
15 CVE = 15 × 0.0212244669556613 MGA = 0.318367004334919 MGA
Cape Verdean Escudo to Malagasy Ariary Conversion Table
| Cape Verdean Escudo | Malagasy Ariary |
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Cape Verdean Escudo
The Cape Verdean Escudo (CVE) is the official currency of Cape Verde, used for all monetary transactions within the country.
History/Origin
Introduced in 1914, the Escudo replaced the Cape Verdean real and has undergone various reforms, with the current version established in 1992 to stabilize the economy and modernize the currency system.
Current Use
The CVE is actively used as the legal tender in Cape Verde, with banknotes and coins circulating nationwide, and it is pegged to the Euro at a fixed rate for stability.
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.