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50 Francs / 10 Ariary
| Issuer | Banky Foiben'ny Repoblika Malagasy / Banque Centrale de la République Malgache |
|---|---|
| Year | 1974-1978 |
| Type | Log in to see details |
| Value | 50 Francs = 10 Ariary (10 MGF) |
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| Composition | Log in to see details |
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| Designer(s) | Log in to see details |
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| In circulation to | Log in to see details |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | BANKY FOIBEN'NY REPOBLIKA MALAGASY BANQUE CENTRALE DE LA REPUBLIQUE MALGACHE ARIARY FOLO LE GOUVERNEUR |
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| Protection type | Watermark |
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| Comments |
Madagascar's dual-language denomination structure — Malagasy francs alongside ariary equivalents — was a transitional compromise introduced as the newly independent republic began distancing itself from the French franc zone. The ariary, an older unit historically equal to five francs, was being gradually elevated rather than simply treated as a conversion footnote. This note captures that awkward intermediate period before the ariary became the sole official unit in 1-to-5 terms on paper money.
Thomas De La Rue's watermark security on this series is modest by their standards, reflecting a cost tier typical of smaller postcolonial central bank contracts of the mid-1970s.