Madagascan ariary
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| ISO 4217 Code | MGA |
| User(s) | Madagascar |
| Inflation | 15% |
| Source | The World Factbook, 2005 est. |
| Subunit | |
| 1/5 | iraimbilanja |
| Coins | 1, 2 iraimbilanja, 1, 2, 4, 5, 10, 20, 50 ariary |
| Banknotes | 100, 200, 500, 1000, 5000, 10000 ariary |
| Central bank | Banque Centrale de Madagascar |
| Website | www.banque-centrale.mg |
The Madagascan ariary (currency code MGA) is the currency of Madagascar.
Contents |
[edit] Non decimal currency
One of only two circulating currencies in the world with division units not based on a power of ten, each ariary comprises five iraimbilanja. (The other non-decimal currency is the Mauritanian ouguiya.) The names Ariary and iraimbilanja derive from the pre-colonial currency. Iraimbilanja means literally "one iron weight", and was the name of an old coin worth 1⁄5 of the ariary.
[edit] Transition to ariary
The ariary replaced the previous currency, the Madagascan franc (also known by its French name, the franc malgache) (ISO 4217 MGF), on January 1, 2005. One Madagascan ariary was valued at 5 franc; that is, one iraimbilanja for 1 franc.
Coins and banknotes had been denominated in both the official francs and the semi-official ariary and iraimbilanja since 1961. Previously, the franc denomination was most prominent. In 1992, higher valued coins began to be issued, starting with 5 ariary to 50 ariary. These coins are denominated in ariary only. In 1993, new 500 ariary-2500 franc note and 5000 ariary-25000 franc were issued with ariary slight more dominant. On banknotes issued since July 31, 2003, the ariary denomination is displayed prominently, and the franc denomination in small print. Coins of lower values are also replaced, with the main design intact.
[edit] Coins in circulation
[1] Bold denotes prominent denomination, while italic denotes equivalence that is not shown on the coin/banknote.
| Denomination | Name | Value in MGF |
|---|---|---|
| 1/5 ariary | Iraimbilanja | 1 MGF |
| 2/5 ariary | Venty sy Kirobo | 2 MGF |
| 1 ariary | Ariary | 5 MGF |
| 1 ariary | Ariary | 5 MGF |
| 2 ariary | Ariary Roa | 10 MGF |
| 2 ariary | Ariary Roa | 10 MGF |
| 4 ariary | Ariary Efatra | 20 MGF |
| 5 ariary | Ariary Dimy | 25 MGF |
| 10 ariary | Ariary Folo | 50 MGF |
| 20 ariary | Ariary Roapolo | 100 MGF |
| 50 ariary | Ariary Dimam-Polo | 250 MGF |
[edit] Banknotes
| Denomination | Year of Issue | Pictures |
|---|---|---|
| 500 francs (100 ariary) | 1994 | girl; zebus click for image |
| 1000 francs (200 ariary) | 1994 | boy + ships; woman, fishermen click for image |
| 2500 francs (500 ariary) | 1998 | old woman; weaving click for image |
| 5000 francs (1000 ariary) | 1995 | young boy; lemurs and birds click for image |
| 100 ariary (500 francs) | 2004 | Ravinala & Tsingy; Antsiranana bay click for image |
| 200 ariary (1000 francs) | 2004 | village gate; Aloalo click for image |
| 500 ariary (2500 francs) | 2004 | Artisan; zebus click for image |
| 1000 ariary (5000 francs) | 2004 | Endemic animals; Cactus Sisal click for image |
| 2000 ariary (10000 francs) | 2003 | baobabs; farm terraces click for image |
| 5000 ariary (25000 francs) | 2003 | sailing boats; beach click for image |
| 10000 ariary (50000 francs) | 2003 | Le palais d'argent; road building click for image |
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