10 Francs / 2 Ariary

The dual denomination — francs alongside ariary — reflects Madagascar's prolonged monetary transition after independence from France in 1960. The ariary was officially the primary unit, with the franc retained as a subdivision (1 ariary = 5 francs), but public familiarity with franc-denominated pricing kept both values on coinage well into the 1990s. The franc was not formally retired until 2005.