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10000 Francs / 2000 Ariary
| Issuer | Banky Foiben'i Madagasikara |
|---|---|
| Year | 1983-1988 |
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| Value | Log in to see details |
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| Composition | Cotton paper |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | BANKY FOIBEN'I MADAGASIKARA ROA ARIVO ARIARY 10000 LE GOUVERNEUR |
| Reverse description | Log in to see details |
| Reverse lettering | BANKY FOIBEN'I MADAGASIKARA 10000 ROA ARIVO ARIARY DIX MILLE FRANCS BELOBIN'NY LALANA HIASA AN'TERIVOZONA MANDRAPAHAPATINY NY MPANAD VOLA SANDORA LA LOI PUNIT DES TRAVAUX FORCES A PERPETUITE TOUT CONTREFACTEUR DE MONNAIE |
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| Comments |
The dual denomination — francs and ariary — reflects Madagascar's prolonged refusal to fully commit to either currency system after independence. The ariary had been the traditional unit of account long before colonization, and when the Malagasy franc was introduced under French rule, the ariary never disappeared from everyday use. The central bank's solution was to print both, with five francs equaling one ariary, a ratio baked into every note in this series.
Thomas De La Rue produced this series through the mid-1980s, a period when Madagascar was under Didier Ratsiraka's socialist-aligned government and foreign exchange was severely constrained — making the cost of overseas security printing a notable political awkwardness.