Malagasy franc
| franc malgache ( ariary | |
|---|---|
| Subunit | |
| 1⁄100 | centime |
| Banknotes | 500, 1,000, 2,500, 5,000, 10,000, 25,000 francs |
| Coins | 1 franc (iraimbilanja), 2 francs (venty sy kirobo), 5 francs (ariary) |
| Demographics | |
| Date of introduction | 1 July 1963 |
| Replaced | CFA franc |
| Date of withdrawal | 31 December 2004 |
| Replaced by | Malagasy ariary |
| User(s) | Madagascar |
| Issuance | |
| Central bank | Central Bank of Madagascar |
| Website | www |
| This infobox shows the latest status before this currency was rendered obsolete. | |
The franc (ISO 4217 code MGF) was the currency of Madagascar until 1 January 2005. It was subdivided into 100 centimes. In Malagasy the corresponding term for the franc is iraimbilanja, and five Malagasy francs is called ariary.
History
The first francs to circulate in Madagascar were
The
After independence from France, the privilege to issue banknotes was transferred to the
The peg to the French franc was kept until 1982 when a series of
Coins
| 5 Malagasy franc | |
|---|---|
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| |
| Obverse: Portrait of Marianne with cargo ships in the background. Year at the bottom and lettering "REPUBLIQUE FRANÇAISE" on the periphery. | Reverse: Denomination on top and country name at the bottom. In the centre, three Zebu conjoined heads. |
| Total 30,012,000 coins minted in 1953. | |
The first Malagasy coins were issued in 1943 by the
From 1965, coins were issued denominated in both francs and ariary.
Banknotes
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Following emergency issues between 1914 and 1917 related to the availability of 5, 10 and 20 franc notes, distinct Malagasy notes were introduced in 1925 in denominations of 5, 10, 20, 50, 100 and 1000 francs. The lower three denominations were replaced by coins in the 1940s and 50s, with 5000 franc notes introduced in 1950.
From 1961, banknotes were issued denominated in both francs and ariary. Following France’s switch to the euro, Madagascar decided it was time to phase out the franc as well. While still denominated in both ariary and francs, on notes issued since 31 July 2003, the former is emphasized with larger fonts and predominant placement. Beginning in 2007, new notes no longer contain references to the franc as a currency and are instead denominated solely in ariary, which replaced the franc as the official currency of Madagascar on 1 January 2005, at a rate of 5 francs per ariary.[1]
References
- ^ Linzmayer, Owen (2012). "Madagascar". The Banknote Book. San Francisco, CA: www.BanknoteNews.com.
External links
- Central Bank of Madagascar web site
- History of Malagasy currencies
- (in French) Les Monnaies à Madagascar (PDF)
- (in English and German) Historical banknotes of Madagascar