Catalog
100 Ariary / 500 Francs
| Issuer | Banky Foiben'i Madagasikara |
|---|---|
| Year | 2004 |
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| In circulation to | 31 December 2020 |
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| Obverse description | Log in to see details |
|---|---|
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| Reverse description | The reverse carries a vignette of the Sugar Loaf hill as seen from Diego-Suarez Bay in Antsiranana, accompanied by an outline map of Madagascar. The design incorporates a bilingual anti-counterfeiting legend in both Malagasy and French, warning of perpetual hard labour for forgers. |
| Reverse lettering | HELOHIN NY LALANA HIASA ANTERIVOZONA MANDRAPAHAFATINY NY MPANAO VOLA SANDOKA LA LOI PUNIT DE TRAVAUX FORCES A PERPETUITE TOUT CONTREFACTEUR DE MONNAIE |
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| Comments |
Madagascar's dual-denomination system — where Ariary and Francs coexisted on the same notes — was a product of the 1961 conversion rate of 1 Ariary to 5 Francs, itself inherited from the CFA Franc structure that predated independence. The Malagasy Franc had been introduced in 1963 as a replacement for the CFA Franc, and the Ariary was simultaneously defined as a unit of account, creating decades of two-number currency that confused transactions well into the 2000s.
The Ariary was finally made the sole official currency in 2005, making this 2004 note one of the last issues to carry both denominations in equal legal standing.