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500 Francs / 100 Ariary
| Issuer | Banky Foiben'ny Repoblika Malagasy / Banque Centrale de la République Malgache |
|---|---|
| Year | 1975 |
| Type | Standard circulation banknote |
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|---|---|
| Obverse lettering | BANKY FOIBEN`I REPOBLIKA MALAGASY ARIARY ZATO |
| Reverse description | The central vignette illustrates a Hiragasy traditional dance performance, rendered in intaglio against a security guilloche underprint. An aloalo funerary post carved in the form of a couple is positioned to the centre-right. The facial value and statutory text are set out in letterpress on the right side of the note. |
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| Comments |
Madagascar's dual-denomination system — Malagasy Ariary running alongside the CFA-linked Franc — was formalized after independence but took years to fully implement in printed form. This note carries both units simultaneously, with the Ariary valued at exactly one-fifth of the Franc, a ratio that defined the transitional monetary framework through the 1970s.
Thomas De La Rue printed the series from London throughout this period, a continuation of the colonial-era printing relationship that persisted well into the republic's post-independence decades.