Catalog
100 Francs / 20 Ariary
| Issuer | Institut d'Émission Malgache |
|---|---|
| Year | 1964-1973 |
| Type | Standard circulation banknote |
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| Obverse description | Log in to see details |
|---|---|
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| Reverse description | A panoramic vignette of the southwestern Madagascan landscape occupies the central field, dominated by tall baobab trees at centre-right with aloe plants in the foreground and cacti to the left. A rectangular cartouche in the lower-left corner carries the anti-counterfeiting penal warning in both French and Malagasy. The composition is framed by the same repeating geometric diamond-pattern border found on the obverse. |
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| Protection type | Watermark |
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| Comments |
The Institut d'Émission Malgache was a transitional authority, established after Madagascar's 1960 independence to manage the currency while the country remained within the Franc Zone. France retained effective monetary control through this arrangement well into the 1970s, which is why the Banque de France continued printing Malagasy notes long after the flag changed.
The dual denomination — francs and ariary — reflects the awkward coexistence of colonial monetary nomenclature with the indigenous unit, where 1 ariary equals 5 francs. The ariary had been in colloquial use for generations before it became official policy.