Malagasy franc
Categories: African currencies | Historical currencies
The Malagasy franc (French: franc malgache) is the defunct currency of Madagascar. It was divided into 100 centimes.
The Malagasy franc was introduced on July 1, 1925, by the French government for use in its Malagasy colony. The currency was issued by the Banque de Madagascar. When the Comoros Islands became a separate French territory, the name of the issuing bank was changed to Banque de Madagascar et des Comores. The Madagascar-Comores CFA franc (XMCF) replaced the Malagasy franc on December 26, 1945, with the creation of the other CFA francs.
After independence from France, Madagascar began issuing its own franc (MGF) currency on July 1, 1963, with the same value. Madagascar left the CFA franc zone in 1972, and the Malagasy franc was declared inconvertible. Banknotes were issued by the Institut d'Emission Malgache until 1974 when the Central Bank of Madgascar took over that function.
It has since undergone a series of devaluations and is finally floating freely. On January 1, 2005, it was replaced by the ariary at a rate of 5 francs to the ariary. The ariary had existed previously but only as a unit of account.
- 1 Franc
- 2 Francs
- 5 Francs
- 10 Francs
- 20 Francs
- 25 Francs
- 50 Francs
- 100 Francs
- 250 Francs
- 1,000 Francs
- 2,500 Francs
- 5,000 Francs
- 10,000 Francs
- 25,000 Francs
See also
External links
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