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5000 Francs / 1000 Ariary

Issuer Institut d'Émission Malgache
Year 1961-1963
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Shape Rectangular
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Obverse description Central vignette of peasant women working in a rice plantation, flanked at left by a portrait of French General Joseph Gallieni and at right by a Malagasy child with cornrow braids. The composition is framed by a geometric guilloche border, with engravers' signatures MUNIER - MARLIAT SC. inscribed in the lower margin.
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Reverse lettering BANQUE DE MADAGASCAR ET DES COMORES C. SERVEAU FEC. BAUDIER SC.
(Translation: Bank of Madagascar and Comoros Islands)
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Comments

The Institut d'Émission Malgache was a transitional authority established at independence in 1960 to manage currency while Madagascar moved away from the CFA franc zone — this note belongs to that brief window before the Banque Centrale de Madagascar took over in 1973. Clément Serveau designed extensively for French colonial and post-colonial issues; André Marliat and Pierre Munier were among the most accomplished intaglio engravers working at the Banque de France during this period.

The dual denomination — francs and ariary — reflects the political awkwardness of the moment, acknowledging a Malagasy unit of account that predated French colonization while the franc remained the actual legal tender.

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