Malagasy Ariary MGA

The Malagasy ariary is the official currency of Madagascar. One ariary is divided into 5 iraimbilanja. Banknotes in circulation are in denominations of 100, 200, 500, 1000, 5000, and 10,000 ariary, and coins are available in 1, 2, 4, 5, 10, 20, 50 ariary and 1, 2 iraimbilanja denominations.

History of the Malagasy Ariary

The ariary became Madagascar's official currency in 2005, replacing the Malagasy franc. While the franc symbol can still be seen on some banknotes, the ariary symbol is prominently displayed and much larger to catch the eye.

Interesting Facts about the Malagasy Ariary

The ariary is still derived from the pre-colonial currency, which was Madagascar's main currency. The word "ariary" literally means "one iron weight" and was an ancient term for the value of coins.