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5000 Francs / 1000 Ariary
| Issuer | Banky Foiben'ny Repoblika Malagasy / Banque Centrale de la République Malgache |
|---|---|
| Year | 1975 |
| Type | Standard circulation banknote |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | BANKY FOIBEN'NY REPOBLIKA MALAGASY / BANQUE CENTRALE DE LA REPUBLIQUE MALGACHE / 5000 / ARIVO ARIARY / LE GOUVERNEUR |
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| Protection type | Watermark |
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| Comments |
Madagascar's dual-denomination system — Malagasy Francs alongside Ariary — dates to 1961, when the newly independent republic introduced the Ariary as a notional sub-unit at five francs to one Ariary, rather than replacing the CFA franc outright. The arrangement persisted for decades, producing notes that carried both values simultaneously, a constant reminder that the monetary transition was never quite finished.
Thomas De La Rue printed the P#66 series throughout the mid-1970s, a period when the Malagasy government was nationalizing key industries and distancing itself from French economic structures — a political posture that coexisted, somewhat awkwardly, with continued reliance on a London printer for its currency.