About the Malagasy Ariary
The Ariary replaced the Malagasy franc in 2005. It is one of only two non-decimal currencies in the world, with 1 Ariary = 5 iraimbilanja.
The name 'Ariary' is derived from the pre-colonial silver dollar. 'Iraimbilanja' literally means 'one iron weight'.
Interesting Facts
A Non-Decimal Currency
The Ariary is one of only two circulating currencies (along with the Mauritanian Ouguiya) that does not use a decimal base. One Ariary is subdivided into 5 iraimbilanja.
A Return to the Past
The adoption of the Ariary marked a return to a pre-colonial currency name, replacing the French-influenced 'franc'.
Lemurs and Baobabs
Reflecting Madagascar's unique biodiversity, the banknotes feature its famous lemurs, baobab trees, and other endemic flora and fauna.
Historical Timeline
The Malagasy franc replaces the CFA franc.
The Ariary officially replaces the franc as the national currency.
Denominations
Banknotes
Coins
Security Features
Quick Facts
- ISO Code
- MGA
- Symbol
- Ar
- Numeric Code
- 969
- Subunit
- Iraimbilanja (1/5)
- Introduced
- 2005-01-01
Central Bank
- Name
- Central Bank of Madagascar
- Headquarters
- Antananarivo, Madagascar
- Founded
- 1973
- Current Governor
- Aivo Andrianarivelo (since 2023)
Economic Data
- Reserve Currency Share
- 0.0%
- Forex Volume Share
- 0.0%
- Inflation Rate
- 7.3%
- Interest Rate
- 9.50%
Exchange Rates
What Affects the MGA Exchange Rate?
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