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î{{short description|Currency of Madagascar}}
{{Infobox currency
| currency_name_in_locallocal_name1 = {{native name|fr|ariary malgache|italics=no}}
| local_name_lang1 = fr
| local_name2 = ariary malagasy
| local_name_lang2 = mg
| image_1 = Madagascar-500francs 100ariary-banknote029.jpg
| image_2 =
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| image_title_2 = 1000 Ariary banknote
| iso_code = MGA
| iso_number =
| using_countries = {{MDG}}
| inflation_rate = 8.8%
| inflation_source_date = ''[https://web.archive.org/web/20070613003823/https://www.cia.gov/library/publications/the-world-factbook/fields/2092.html The World Factbook]'', 2013 est.
| replaced_currency = [[Malagasy franc]]
| subunit_ratio_1 = {{frac|1|5}}
| subunit_name_1 = [[iraimbilanja]] ([[Malagasy franc|franc]])
| frequently_used_coins = 10, 20, 50 Ar
| rarely_used_coins = 1, 2 iraimbilanja; 1, 2, 54, 45 Ar
| symbol = Ar
| no_plural = y
| frequently_used_banknotes = 100, 200, 500, 1000, 2000, 5000, 10,000 Ar
| rarely_used_banknotes = 100, 200, 20,000 Ar
| issuing_authority = [[Central Bank of Madagascar|Banky Foiben'i Madagasikara]]
| issuing_authority_website = {{URL|https://www.banky-foibe.mg/}}
}}
The '''ariary''' ([[currency sign|sign]]: Ar;<ref>{{Cite web |title=Banky Foiben'i Madagasikara [Central Bank of Madagascar] |url=http://www.banque-centrale.mg/ Banky|url-status=dead Foiben'i Madagasikara]|archive-url=https://web.archive.org/web/20110116045930/http://www.banque-centrale.mg/ Accessed|archive-date=16 January 2011 |access-date=24 FebFebruary 2011. |language=fr}}</ref> [[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]]''). The names ariary and iraimbilanja derive from the pre-colonial currency, with ariary (from the Spanish word "[[Spanish_colonial_realSpanish colonial real|real]]") being the name for a silver [[dollar]]. Iraimbilanja means literally "one iron weight" and was the name of an old coin worth {{frac|1|5}} of an ariary. However, as of 2021May 2023, the unit is effectively obsolete, since onethe iraimbilanja ishas worthpractically lessno thanpurchasing [[US$]]0.005power, and the coins have fallen into disuse.
 
==History==
The ariary was introduced in 1961. It was equal to 5 [[Malagasy franc]]s. Coins and banknotes were issued denominated in both francs and ariary, with the sub-unit of the ariary, the ''iraimbilanja'', worth {{frac|1|5}} of an ariary and therefore equal to the franc. The ariary replaced the franc as the official currency of Madagascar on January 1, 2005.<ref>{{cite web |date=4 April 2011 |title=Malagasy Ariary |url=http://famouswonders.com/malagasy-ariary/|title=Malagasy Ariary|work=famouswonders.com|access-date=29 July 2015 |work=Famous Wonders}}</ref>
 
[[Coin]]s and [[banknote]]s were denominated in both the official francs and the semi-official ariary and iraimbilanja since 1961. On early issues, the franc denomination was the most prominent. However, from 1978, higher value coins were issued denominated only in ariary. In 1993, new 500 ariary-2500 franc note and 5000 ariary-25,000 franc were issued with ariary slightly more prominent. On banknotes issued since July 31, 2003, the ariary denomination is displayed prominently and the franc denomination in small print. Lower denomination coins are also now issued denominated in ariary but with the main design unchanged.
 
==Coins==
{{seealsosee also|Coins of Madagascar}}
 
In 1965, 1 franc (1 [[iraimbilanja]]) and 2 francs (venty sy kirobo) coins were issued, followed by 5 francs (1 ariary) in 1966 and 10 and 20 francs (2 and 4 ariary) in 1970. The term "venty sy kirobo" derives from names used in the 19th century for {{frac|1|6}} and {{frac|1|4}} of a silver dollar or 5 francs piece, since {{frac|1|6}}+{{frac|1|4}}={{frac|5|12}} of 5 francs is approximately 2 francs.<ref>{{Cite web|url=https://ee.co.uk/|title=EE|website=EE}}</ref>
 
In 1978, 10 and 20 ariary coins were issued which did not show the denomination in francs. These were followed in 1992 by 5 and 50 ariary coins as well as smaller 10 and 20 ariary. In 2003–20042003–04, 1 and 2 ariary coins not bearing the franc denomination were also introduced.<ref>
http://www.banque-centrale.mg/pieces.asp{{dead link|date=January 2018 |bot=InternetArchiveBot |fix-attempted=yes }}</ref>
 
Coins in circulation are listed below. Bold denotes the most prominent denomination, while italic denotes an equivalence that is not shown on the coin.
{|class="wikitable"
|- bgcolor="#efefef"
! Denomination !! Name !! Value in MGF
|-
| {{frac|1|5}} ariary || Iraimbilanja || '''1 franc'''
|-
| {{frac|2|5}} ariary || Venty sy Kirobo || '''2 francs'''
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In 1961, the [[Institut d'Émission Malgache]] (Malagasy Issuing Institute) introduced banknotes in denominations of 50, 100, 500, 1000 and 5000 francs. These notes were overprints on earlier notes of the Bank of Madagascar and Comoros, with the denomination in ariary (10, 20, 100, 200 and 1000) included in the overprint. Regular banknotes in the same denominations followed between 1963 and 1969. 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.<ref>{{cite book | last1 = Linzmayer | first1 = Owen | title = The Banknote Book | chapter = Malagasy Republic | publisher = www.BanknoteNews.com | year = 2012 | location = San Francisco, CA | url = https://www.banknotenews.com/banknote_book/banknote_book.php}}</ref> In 1974 new notes were issued in the same denominations as had been used earlier.
 
In December 1975, a draft constitution was overwhelmingly approved in a referendum, and the Second Malagasy Republic, to be called the Repoblica Demokratika Malagasy (Democratic Republic of Madagascar), was proclaimed. As a result of the change in the country’scountry's name, the former Banky Foiben’ny Repoblika Malagasy was renamed Banky Foiben’i Madagasikara (Central Bank of Madagascar). resulting in a new series of notes which included 10,000 francs (2000 ariary) notes but did not include 50 or 100 francs.<ref>{{cite book | last1 = Linzmayer | first1 = Owen | title = The Banknote Book | chapter = Madagascar | publisher = www.BanknoteNews.com | year = 2012 | location = San Francisco, CA | url = https://www.banknotenews.com/banknote_book/banknote_book.php}}</ref>
 
In 1993, notes for 500 ariary and 5000 ariary were introduced which bore the ariary denominations in numerals as well as the franc denominations (2500 and 25,000) in smaller numerals. However, in 1998, these notes were replaced by new issues which only gave the franc denominations in numerals.
 
In 2003–2004, new notes were introduced in denominations of 100, 200, 500, 1000, 2000, 5000 and 10,000 ariary. These notes also bear the franc denominations on notes up to 1000 ariary (500, 1000, 2500, 5000) in very small numerals.
 
In 2017, the Bank Foiben’i Madagasikara (Central Bank of Madagascar) introduced a new family of banknotes. The new series of notes, like its previous series, remains "Madagascar and its Riches", highlighting its economic activities, biodiversity, culture and tourist sites. Part of this series includes a new denomination, 20,000 ariary. The first four denominations in this series, 2,000-, 5,000-, 10,000 and 20,000 ariary were issued on July 17, 2017. The four other denominations, 100-, 200-, 500 and 1,000 ariary, were issued on September 17, 2017.<ref>[http://banknotenews.com/files/e8aeff90a3684e8d5e9f8fcd11c1b3eb-4373.php Madagascar new note family to be introduced July/September 2017]
Banknote News (banknotenews.com). July 11, 2017. Retrieved on 2017-07-11.</ref>
 
Banknotes currently in circulation are listed below.<ref>{{Citecite web |urltitle=http://www.banque-centrale.mg/billet_banq.aspLEGAL TENDER BANKNOTES |archive-url=https://web.archive.org/web/20070526184114/http://www.banquebanky-centralefoibe.mg/billet_banq.asp|urlbillets-status=dead|archivede-date=Maybanque-ayant-cours-legale 26, 2007|titlewebsite=LESCentral BILLETSBank DEof BANQUEMadagascar AYANT COURS LEGAL|access-date=May28 26,June 20072022}}</ref>
{|class="wikitable"
! Denomination !! Year of Issue !! DescriptionObverse !! Reverse▼
|- bgcolor="#efefef"
▲! Denomination !! Year of Issue !! Description
|-
| 20,000 || 2017 || Ambatovy Plant ([[Sherritt International]]) || Rice field, vanilla, pepper
| 500 francs (100 ariary)|| 1994 || girl; [[zebu]]s
|-
| 10,000 || 2017 || [[Port d'Ehoala]] || [[Valiha]] and [[Zafimaniry]] products
| 1000 francs (200 ariary) || 1994 || boy + ships; woman, fishermen
|-
| 5,000 || 2017 || [[Ranomafana National Park]] waterfall || [[Humpback whale]] and beach
| 2500 francs (500 ariary)|| 1998 || old woman; weaving
|-
| 2,000 || 2017 || Lemur ([[Hapalemur alaotrensis]]) || [[Nepenthes madagascariensis]]
| 5000 francs (1000 ariary)|| 1995 || young boy; [[lemur]]s and birds
|-
| 1,000 || 2017 || Kamoro Bridge || Queen of [[Isalo]]
| 100 ariary (500 francs)|| 2004 || [[Traveler's_palm|ravinala]] & [[tsingy]]; [[Antsiranana Bay]]
|-
| 500 || 2017 || [[Ambohimanga]] || [[Karst topography|Tsingy]]
| 200 ariary (1000 francs)|| 2004 || [[Architecture of Madagascar|village gate]]; [[aloalo]]
|-
| 200 || 2017 || [[Montagne d'Ambre National Park]] || [[Nosy Hara National Park]]
| 500 ariary (2500 francs)|| 2004 || Artisan; [[zebu]]s
|-
| 1000 ariary (5000 francs)|| 2004 || Endemic animals; [[Sisal|cactus sisal]]
|-
| 2000 ariary (10,000 francs)|| 2003 || [[Adansonia_grandidieri|baobabs]]; [[Terraced_(agriculture)|rice terraces]]
|-
| 5000 ariary (25,000 francs)|| 2003 || [[dhow]]s; beach
|-
| 10,000 ariary (50,000 francs)|| 2003 || [[Rova of Antananarivo]]; road building
|-
| 20,000 ariary (100,000 francs)|| 2017 || nickel processing plant<!-- at [[Ambatovy]] (redlink)-->; [[Yuan Longping|Yuan]]'s [[hybrid rice]],<ref name="YLPMadagascar">{{cite news |title=Ms. RAMILIARIJAONA Nomenjanahary Saholy, president of Direction de la Protection des Végétaux (DPV), Ministère de l'Agriculture, de l'Elevage et de la Pêche, present a 2,0000 ariary banknote as a gift to Yuan Longping during his visit to Changsha in 2017 |url=https://www.thepaper.cn/newsDetail_forward_10347285 |access-date=2021-05-23 |agency=The Paper |date=2020-12-10}}</ref> lychees and vanilla
|-
| 100 || 2017 || [[Holy Name of Jesus Cathedral, Fianarantsoa|Holy Name of Jesus Cathedral]] || ''[[Mantella baroni]]'' frog
|}
 
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* [http://www.bis-ans-ende-der-welt.net/Madagaskar-B-En.htm Historical and current banknotes of Madagascar] {{in lang|en|de}}
 
{{CommonscatCommons category|Money_of_Madagascar}}
{{Economy of Madagascar}}
{{Currencies of Africa}}
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[[Category:Currencies of Madagascar]]
[[Category:Currencies introduced in 1961]]
[[Category:Currencies of Africa]]
[[Category:Circulating currencies]]
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