Malagasy ariary

The Malagasy ariary (ISO 4217 MGA) is the currency of Madagascar.

Related Topics:
ISO 4217 - Madagascar

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One of only two circulating currencies in the world with division units not based on a power of ten, each ariary comprises five iraimbilanja. (The other non-decimal currency is the Mauritanian ouguiya.) The names Ariary and iraimbilanja derive from the pre-colonial currency. Iraimbilanja means literally "one iron weight", and was the name of an old coin worth 1/5 of the ariary.

Related Topics:
Iraimbilanja - Mauritania - Ouguiya

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The ariary replaced the previous currency, the Malagasy franc (also known as by its French name, the franc malgache) (ISO 4217 MGF), on January 1, 2005. One Malagasy franc was valued at 0.2 ariarys; that is, one iraimbilanja.

Related Topics:
Malagasy franc - January 1 - 2005

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Coins and banknotes had been denominated in both the official francs and the semi-official ariary and iraimbilanja since the franc malgache was introduced. Previously, the franc denomination was most prominent. On banknotes issued since July 31, 2003, the ariary denomination is displayed prominently, and the franc denomination in small print. The coins have not been replaced.

Related Topics:
Coin - Banknote - July 31 - 2003

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As of January 19, 2005 there were 1,760.04 ariary to the US dollar or 2,285.95 to the Euro.

Related Topics:
January 19 - 2005 - US dollar - Euro

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