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The denomination in ariary was written only in words, not numerals. On 12 June 1973, the Banky Foiben’ny Repoblika Malagasy (Central Bank of the Malagasy Republic) was created by Ordinance No. 73-025, taking over the functions of the Institut d’Émission Malgache, including the issuance of banknotes. [5]
Denominations were given both in francs and ariary, with 5 francs = 1 ariary. Madagascar left the CFA franc zone in 1972 and the Malagasy franc was declared inconvertible. Banknotes were issued by the Institut d'Émission Malgache until 1974 when the Banque Centrale de Madagascar (Central Bank of Madagascar) took over that function.
The iraimbilanja (singular and plural) is the divisory currency unit of Madagascar, [1] ... one iron weight" and was the name of an old coin worth 1 ⁄ 5 of an ariary.
Madagascar's coins and banknotes were then issued by Madagascar's Institut d'Émission Malgache until 1974 when the Banque Centrale de Madagascar was formed. Since 2005, the Malagasy ariary (MGA), issued by the Banque Centrale de Madagascar, has been the country's currency.
Today, only two countries have non-decimal currencies: Mauritania, where 1 ouguiya = 5 khoums, and Madagascar, where 1 ariary = 5 iraimbilanja. [1] However, these are only theoretically non-decimal, as in both cases the value of each sub-unit is too small to be of any practical use and coins of sub-unit denominations are no longer used.
In 2007, when Antananrivo's Mayor Andry Rajoelina took office, the city's treasury had a debt of 8.2 billion Malagasy Ariary (approximately 4.6 million U.S. dollars). [3] On 4 January 2008, because of unpaid debts to the Jirama, the city of Antananarivo was hit by a general water cutoff and brownouts of the city's street lights.
World premiering out of the Marrakech Film Festival ahead of a wider and promising festival run, Luck Razanajaona’s “Disco Afrika: A Malagasy Story” will offer the cinema of Madagascar its ...
10 francs (2 ariary) 1970: 1989: Aluminium-bronze: Plain: Vanilla plant: Zebu 10 francs (2 ariary) 1991: 1991: Copper plated steel: FAO series, zebu 20 francs (4 ariary) 1970: 1989: Aluminium-bronze: Plain: Cotton plant: FAO series, zebu These images are to scale at 2.5 pixels per millimetre. For table standards, see the coin specification table.