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The ariary (sign: Ar; [1] ISO 4217 code MGA) is the currency of Madagascar. It is notionally subdivided into 5 iraimbilanja and is one of only two non-decimal currencies currently circulating (the other is the Mauritanian ouguiya ).
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.
A British gold sovereign with a face value of £1. Prior to decimalisation on 15 February 1971, £1 was made up of 240 pence.. A non-decimal currency is a currency that has sub-units that are a non-decimal fraction of the main unit, i.e. the number of sub-units in a main unit is not a power of 10.
The local name of the currency is used in this list, with the adjectival form of the country or region. ... Ariary – Madagascar; ... Wikipedia® is a registered ...
The iraimbilanja (singular and plural) is the divisory currency unit of ... one iron weight" and was the name of an old coin worth 1 ⁄ 5 of an ariary.
Colour key and notes Indicates that a given currency is pegged to another currency (details) Italics indicates a state or territory with a low level of international recognition State or territory Currency Symbol [D] or Abbrev. ISO code Fractional unit Number to basic Abkhazia Abkhazian apsar [E] аҧ (none) (none) (none) Russian ruble ₽ RUB Kopeck 100 Afghanistan Afghan afghani ؋ AFN ...
African currency was originally formed from basic items, materials, animals and even people available in the locality to create a medium of exchange. This started to change from the 17th century onwards, as European colonial powers introduced their own monetary system into the countries they invaded.
The Banque Centrale de Madagascar has origins in the Banque de Madagascar, which issued the Madagascar-Comores CFA franc, beginning in 1925, as Madagascar's currency.In 1945, after the creation of Territory of Comoros, the Banque de Madagascar et des Comores was formed; concurrent with the creation of many other African franc currencies.