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Compare today's MGA to XOF (Malagasy Ariary to CFA Franc BCEAO) exchange rates

Madagascar
Niger
MGA

Interbank Exchange Rate: 1 MGA = 0.1256 XOF
Updated about an hour ago

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All you need to know about Malagasy Ariary to CFA Franc BCEAO money transfers

Easily compare money transfer providers in one place to send money from Madagascar to Niger. Send money overseas to your loved ones by comparing Malagasy Ariary (MGA) to CFA Franc BCEAO (XOF) remittance exchange rates. Read remittance service provider reviews and check out deals, promotions and discounts. Transfer online or send cash based on services offered by these providers.

Looking for a different option? You can browse all sending countries on our send money from hub, or view all destinations available when sending money from Madagascar.

Were you looking to send money from Niger to Madagascar instead?

If you need to send international business money transfers and payments, get in touch with us to see how we can help protect your revenue.

Did not find the providers you were looking for? Please reach out to us at info@remitfinder.com, and we will do our best to add them to our platform.


Latest MGA to XOF Conversion Rates

Here are some latest MGA to XOF (Malagasy Ariary to CFA Franc BCEAO) exchange rates for popular conversion amounts*.

1 MGA0.13 XOF
5 MGA0.63 XOF
10 MGA1.26 XOF
25 MGA3.14 XOF
50 MGA6.28 XOF
100 MGA12.56 XOF
150 MGA18.84 XOF
200 MGA25.12 XOF
250 MGA31.40 XOF
300 MGA37.68 XOF
400 MGA50.24 XOF
500 MGA62.80 XOF
600 MGA75.36 XOF
700 MGA87.92 XOF
800 MGA100.48 XOF
1,000 MGA125.60 XOF
1,500 MGA188.40 XOF
2,000 MGA251.20 XOF
2,500 MGA314.00 XOF
3,000 MGA376.80 XOF
4,000 MGA502.40 XOF
5,000 MGA628.00 XOF
10,000 MGA1,256.00 XOF
15,000 MGA1,884.00 XOF
20,000 MGA2,512.00 XOF
30,000 MGA3,768.00 XOF
40,000 MGA5,024.00 XOF
50,000 MGA6,280.00 XOF
100,000 MGA12,560.00 XOF

*Based on the Interbank Exchange Rate. Actual payout may vary based on the chosen money transfer provider.


What's the best way to send money to Niger from Madagascar?

Foreign exchange rates fluctuate by the second, much like equities listed on the stock market. Given that, it might seem like a daunting task to determine the best timing to transfer money from Madagascar to Niger. We ensure that you are getting the best rate and sending money at the right time with trusted money transfer companies when you transfer Malagasy Ariary to XOF.

You can rely on RemitFinder to do the hard work of searching for the best companies specializing in sending money abroad for you. Our remittance comparison platform helps you spot the best options to send MGA to XOF in Niger. Every company listed on our site is an established business that our team evaluates to make sure you get access to the best exchange rates.

With RemitFinder, you can also take advantage of numerous offers and discounts that our partners provide to maximize the power of your money transfers to Niger from Madagascar. We provide you with maximum choices to send money to Niger by comparing competing money transfer companies thereby making you the winner in the end.


How to get the best exchange rate for your money transfers from Madagascar to Niger?

When sending money overseas, there are a lot of options at your disposal these days. All of them come with various caveats that may include exchange rates, fees, transaction processing time, security and privacy, and so on. RemitFinder helps you to decide which foreign exchange operator to pick for your MGA to CFA Franc BCEAO money transfer.

Our real time remittance comparison engine compares numerous banks, FX providers, remittance companies, multi currency bank accounts, etc. and presents you with the best options for sending money from Madagascar to Niger. We carefully select providers to give you the best choices for sending money internationally.

Additionally, you can sign up for the free rate alert to always stay updated with the best rates and promotions for MGA to XOF remittances. With our daily free rate alert, you will never have to manually search and compare providers again.


What's the cheapest way to send money to Niger from Madagascar?

Finding the cheapest way to send money from Madagascar to Niger might not be that easy given the umpteen choices available. You have to look at various parameters like exchange rates and fees to determine if the cost of one money transfer operator is less than that of another or not.

It may also be tempting to use some of the traditional funds transfer services like foreign currency exchanges or operators located in shopping malls, grocery stores and other local outlets. While you can certainly transfer MGA to XOF via these channels, they may not be the most economical way to send money internationally. Typically, brick and mortar services charge higher fees and may also provide lower rates. All this contributes to making your foreign exchange transfer more expensive.

Online money transfers tend to be more cost effective, and RemitFinder provides you quite a number of good choices to ensure you are able to get optimum Madagascar to Niger exchange rate. Many of our partners also provide promotions and offers that are exclusive to our customers; availing these will definitely reduce the cost of your foreign exchange transaction further.


How to send money from Madagascar to Niger through a bank?

We do not recommend using your local bank in Madagascar for your next MGA to XOF overseas funds transfer. The reason for this is that banks are known to give you worse exchange rates and yet charge high foreign exchange fees. That is a double whammy that will make the transaction much more expensive for you.

That said, there may be circumstances you may want to consider your bank for your international funds transfer. For example, if you need to move a very large sum of money from Madagascar to Niger (for property purchase, or any such high value transaction), and do not want smaller transactions. In such cases, be sure to carefully inspect all details of the remittance transaction that your bank offers you. You can use the RemitFinder remittance search engine to compare your bank's quote with many other money transfer companies to try to negotiate a better deal with your bank.

Notwithstanding any unique circumstances as above, you will generally save more by relying on online foreign exchange companies for sending XOF to Niger. These companies will let you use your local bank account in Madagascar to pay for your Niger money transfer, but will likely save you a lot of money by affording better rates and citing lower foreign exchange transaction fees.


How to send money to Niger from Madagascar fast?

If you need to convert MGA to XOF as fast as possible, there are definite steps you can take that will help you do so. You could pay for your transfer with cash, as well as have your recipient do a cash pickup for payout - both of these methods will speed up your money transfer.

That said, handling cash could be a safety issue given that both the sender and receiver have to physically carry cash (most agent locations are located in physical stores, malls, and retail outlets which may or may not be in a physically safer area). Additionally, due to the extra costs involved to set up and maintain physical locations, cash transactions tend to get a worse foresign exchange rate (contrasted with online/digital transfers). So, another option to move money quickly from Madagascar to Niger could be sending it to a mobile wallet. This would entail some slowness compared to cash transfers, but would be more safe.

Apart from the above, there are many other factors that can have an impact on your Malagasy Ariary to CFA Franc BCEAO funds transfer speed. To arm you with all the knowledge you need to distinguish faster from slower remittance providers, we crafted a complete guide to remittances; this article touches upon everything you need to know to make the fastest money transfers to Niger.

With so many choices available, make sure to compare various forex operators that enable you to remit money from Madagascar to Niger. Once you understand their services and the factors that affect how fast your money can be transferred overseas, you will be able to minimize the time your money is in transit.


Which are the best money transfer companies to send money to Niger from Madagascar?

Comparing money transfer companies for sending money to Niger from Madagascar can be challenging, especially given the number of options out there. But, if you are armed with the right knowledge, it will help you make a more informed decision and, therefore, make the most of your hard earned money.

There are various areas you would want to inspect when evaluating these providers to gauge the best fit for sending money overseas to Niger. How much do you want to send? Some companies deal with only small amounts, while others specialize in larger ones. Are you OK paying a fee for your Malagasy Ariary to CFA Franc BCEAO transfer or you will only go with 0 fees? How about exchange rates? Can you send money using non-fixed or indicative rates?

Once you start applying these conditions to the list of choices you see, you can start to eliminate companies that do not match any of your preferences. This will help fine tune the list to a small number. Finally, keep an eye on promotions and discounts as they will help maximize the CFA Franc BCEAO yield on every Malagasy Ariary that you send.


Step by step guide to do a money transfer from Madagascar to Niger

Sending money internationally is very common these days, especially given the large communities of expats living abroad. If you are one of them, and need to send money from Madagascar to Niger, then please continue to read.

One of the hardest things in the foreign currency transaction world is to find the best company to move your money abroad. There are so many choices to remit funds from Madagascar to Niger that you may feel a bit lost. This is where RemitFinder comes in. You can relax as we do all the hard work to search and compare numerous money transfer companies for you.

Once you identify your provider of choice, follow the below step by step guide to send money.

  • Provide your name, address, photo ID and other related information as part of the signup process. Forex companies are regulated to ensure that your money is safe, so providing this information ensures compliance laws are adhered to.
  • Provide information about the receiver - name, address and a bank account in Niger where they can receive monies in CFA Franc BCEAO.
  • Then, provide details of your Madagascar bank account so you can transfer the funds to the provider to allow them to do the transaction on your behalf.
  • Finally, select the amount you want to transfer, and click Send.
  • The provider will start your transaction, and keep you updated on the progress of your transfer.

Also, keep an eye on any discount or promotional coupon codes as they may help lower the cost of your remittance. The process is quite easy and you can see your MGA travel to another part of the globe.