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100 Francs / 20 Ariary
| Issuer | Institut d'Émission Malgache |
|---|---|
| Year | 1964-1973 |
| Type | Log in to see details |
| Value | 100 Francs = 20 Ariary (20 MGF) |
| Currency | Log in to see details |
| Composition | Log in to see details |
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| Printer | Log in to see details |
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| Engraver(s) | Log in to see details |
| In circulation to | Log in to see details |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | Log in to see details |
| Reverse description | Log in to see details |
| Reverse lettering | FAMOAHAMBOLAN'NY REPOBLIKA MALAGASY INSTITUT D'ÉMISSION MALGACHE LA LOI PUNIT DES TRAVAUX FORCÉS À PERPÉTUITÉ TOUT CONTREFACTEUR DE MONNAIE HELOHIN'NY LALANA HIASA AN-TERIVOZONA MANDRAPAHAFATINY NY MPANAO VOLA SANDOKA (Translation: Publications of the Malagasy Republic / Malagasy Emission Institute / The law punishes with forced labour in perpetuity any counterfeiter of currency) |
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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.