500 Francs / 100 Ariary

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.