1000 Francs / 200 Ariary 'Tsiranana'

The Institut d'Émission Malgache was a transitional authority, established after independence in 1960 to manage currency before the Banque Centrale de Madagascar took over in 1973. This note belongs to the first truly Malagasy series — prior issues were overprinted French colonial stock. Philibert Tsiranana, whose name the note carries, was Madagascar's first president, and the use of his likeness reflected the new republic's need to establish political identity through its currency.

Engraving divided between Lambert on the obverse and Marliat on the reverse was routine Banque de France practice for the period, each specialist handling a single side.