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500 Ariary / 2500 Francs Paper
| Issuer | Banky Foiben'i Madagasikara |
|---|---|
| Year | 2004 |
| Type | Standard circulation banknote |
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|---|---|
| Obverse lettering | BANKY FOIBEN'I MADAGASIKARA DIMAN-JATO ARIARY |
| Reverse description | A central intaglio vignette occupies the right portion of the note, rendered in terracotta tones, and presents a herdsman tending a large drove of zebu cattle across an open pastoral landscape, with a small outline map of Madagascar at upper left. The denomination appears in large numerals at lower left and in spelled-out Malagasy text along the lower margin, with the equivalent value in francs noted vertically at left. |
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| Comments |
Madagascar's dual-denomination system — where Ariary and Francs coexisted on the same notes — dates to 1961, when the Ariary was introduced as a unit equal to five Francs. The Franc had been legal tender since the colonial period, and the transition was gradual enough that banknotes continued to display both values simultaneously for decades, long after most countries would have completed the switch. The 2004 series arrived just before the Franc was formally abolished in 2005, making this among the last issues to carry the dual designation as an active legal requirement rather than a courtesy conversion.