2000 Ariary

Madagascar redenominated from the Malagasy Franc to the Ariary in 2005 — a restoration, technically, since the Ariary had been the country's unit of account before French colonial currency structures displaced it. The 2000 Ariary sits in the mid-range of the current polymer-adjacent series, though this issue retains cotton paper rather than moving to the polymer substrate that some denominations in the region have adopted. Giesecke & Devrient have handled Malagasy banknote production across multiple series, making Leipzig a quiet but consistent presence behind Madagascar's currency infrastructure.