The laminar boundary layer on a magnetized plate, when the magnetic field oscillates in magnitude about a constant non-zero mean, is analysed. For low-frequency fluctuations the solution is obtained by a series expansion in terms of a frequency parameter, while for high frequencies the flow pattern is of the ‘skin-wave’ type unaffected by the mean flow. In the low-frequency range, the phase lead and the amplitude of the skin-friction oscillations increase at first and then decrease to their respective ‘skin-wave’ values. On the other hand the phase angle of the surface current decreases from 90° to 45° and its amplitude increases with frequency.