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100 Madagascar Malagasy Ariary

The Ariary (sign: Ar; ISO 4217 code MGA) is the currency of Madagascar. It is notionally subdivided into 5 iraimbilanja and is one of only two non-decimal currencies currently circulating (the other is the Mauritanian ouguiya).

The names ariary and iraimbilanja derive from the pre-colonial currency, with ariary (from the Spanish word “real”) being the name for a silver dollar. Iraimbilanja means literally “one iron weight” and was the name of an old coin worth 1⁄5 of an ariary. However, as of 2021, the unit is effectively obsolete since one iraimbilanja is worth less than US$0.005 and the coins have fallen into disuse.

Coins and banknotes were denominated in both the official francs and the semi-official ariary and iraimbilanja since 1961. On early issues, the franc denomination was the most prominent.

On banknotes issued since July 31, 2003, the ariary denomination is displayed prominently and the franc denomination in small print. Lower denomination coins are also now issued denominated in ariary but with the main design unchanged.

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