Catalog
2000 Ariary / 10000 Francs
| Issuer | Banky Foiben'i Madagasikara |
|---|---|
| Year | 2003-2007 |
| Type | Standard circulation banknote |
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| Composition | Log in to see details |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | BANKY FOIBEN'I MADAGASIKARA ROA ARIVO ARIARY 10000 FRANCS |
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| Protection type | Log in to see details |
| Protection description | Zebu head and denomination watermark; embedded security thread; three-dimensional security element at centre-right of obverse |
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| Comments |
Madagascar ran a dual-denomination system from 1961 until 2005, when the ariary formally replaced the Malagasy franc at a fixed rate of 1 ariary to 5 francs — meaning this note's face value required two numbers that were neither equal nor a round conversion. The 2003 issue predates the official cutover by two years, placing it in the transitional window when both currencies were legally valid simultaneously.
Giesecke & Devrient's involvement here is consistent with their long relationship with francophone African central banks. The 3-D security element is notable for a denomination of this modest level.