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Madagascar Ariary Banknotes
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The information about Madagascar.
Madagascar is an island country that lies on the southeastern coast of Africa in the Indian ocean. It is the second-largest island country in the world with 228.900 square miles. The capital also the largest city of Madagascar is Antananarivo. Its official language is Malagasy and French. Madagascar also was famous because of its biodiversity hotspot, 90% of its wildlife cannot find anywhere else on Earth. But it is also one of the countries that have the least developed. The French franc was used to be the currency in Madagascar until the first WWI. But it was too late when the French francs were restored in Madagascar. The Malagasy franc was already in circulation.
The history of Malagasy ariary and Malagasy franc.
The ariary is the official currency in Madagascar at present with the currency code is MGA. The word ariary was meaning silver dollar. It was first introduced in 1961 as a replacement for Malagasy Franc (1 ariary= 5 francs). Since 1961, the Madagascar government issued coins and banknotes at both franc and ariary. However, up until January 1, 2005, the franc was abolished and replaced completely by the ariary.
At first, the franc seems more popular. But in 1978, the ariary started getting more value. Ultimately, the ariary became more prominent when the new 500 and 2,500 ariary banknote denominations were introduced, as well as 5,000 and 25,000 francs. Consequently, on July 1, 2003, the Franc banknotes were printed lesser compared to the ariary at the same amount of printing.
The Malagasy ariary has 100, 200, 500, 1000, 2000, 5000, and 10 000 ariary in the banknote denominations.
The Malagasy ariary is one of the most unique banknotes and not so many people know it. Also is one of the only two non-decimal currencies still in circulation.
At first, the franc seems more popular. But in 1978, the ariary started getting more value. Ultimately, the ariary became more prominent when the new 500 and 2,500 ariary banknote denominations were introduced, as well as 5,000 and 25,000 francs. Consequently, on July 1, 2003, the Franc banknotes were printed lesser compared to the ariary at the same amount of printing.
The Malagasy ariary has 100, 200, 500, 1000, 2000, 5000, and 10 000 ariary in the banknote denominations.
The Malagasy ariary is one of the most unique banknotes and not so many people know it. Also is one of the only two non-decimal currencies still in circulation.
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