|ariary malgache (in French)|
|ISO 4217 Code||MGA|
|Source||The World Factbook, 2007 est.|
|Coins||1, 2 iraimbilanja, Ar1, 2, 4, 5, 10, 20, 50|
|Banknotes||Ar100, 200, 500, 1000, 2000, 5000, 10,000|
|Central bank||Banque Centrale de Madagascar|
The ariary (Ar; ISO 4217 code MGA) is the currency of Madagascar. It is equal to 5 iraimbilanja. The ariary is one of only two non-decimal currencies currently being used. The other is the Mauritanian ouguiya.
History[change | change source]
The ariary was first used in 1961. It was equal to 5 Malagasy francs. Coins and banknotes were printed in both francs and ariary. The sub-unit of the ariary, the iraimbilanja, was worth ⅕ of an ariary. Because of this, it was equal to one franc. The ariary replaced the franc as the official currency of Madagascar on January 1, 2005.