Currency Information on Malagasy Ariary
Currency Information on Malagasy Ariary - MGA — Malagasy ariary – Ar
The Madagascan currency, is one of only two non-decimal units of currency in circulation, one ariary subdivides into 5 iraimbilanja.
The currency was introduced in 1961, replacing the Malagasy franc at a ratio of 5 francs to one ariary. Both franc and ariary continued to be issued alongside each other, until the ariary became the official currency, fully replacing the franc in 2005.
Coins are available in denominations of 1 and 2 iraimbilanja, 1, 2, 4, 5, 10, 20 and 50 ariary. Banknotes are in circulation in denominations of 100, 200, 500, 1000, 2000, 5000 and 10,000 ariary.