The
Madagascan Currency is known as the Malagasy Ariary (MGA). The
currency was introduced in 2005 to replace the Malagasy Franc which
had been in use since the French colonial period. One Ariary is
equivalent to five Iraimbilanja.
Denominations:
Coin denominations exist for 1 Iraimbilanja, 2/5, 1, 2, 4, 5,
10, 20 and 50 Ariary. Banknotes are available for; 100, 200,
500, 1000, 2000, 5000 and 10000 Ariary.
Exchange Rates against major currencies:
At the time of writing (June 2006), one American Dollar was
equivalent to 2,155 Ariary, one Euro was equivalent to 2,755.37
Ariary and one British Pound was equivalent to 3981.38 Ariary.
