5000 Ariary

The 5000 Ariary is among the higher denominations in Madagascar's current polymer-adjacent cotton series, though the island's persistent inflation has steadily eroded its purchasing power — by the early 2020s it was worth roughly the equivalent of a dollar and change. Giesecke & Devrient's Leipzig facility has handled Malagasy currency production for much of the modern period, supplying notes to a central bank that has navigated recurring foreign exchange crises and donor-dependent fiscal cycles since the mid-2000s political rupture that cost Madagascar its AGOA trade eligibility.