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500 Francs / 100 Ariary
| Issuer | Banky Foiben'ny Repoblika Malagasy / Banque Centrale de la République Malgache |
|---|---|
| Year | 1975 |
| Type | Log in to see details |
| Value | 500 Francs = 100 Ariary (100 MGF) |
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| Composition | Log in to see details |
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| Obverse description | A young woman carrying a basket on her head is portrayed in the centre-right vignette, rendered in intaglio against a multicolour guilloche underprint. A spray of tropical flowers occupies the centre-left, while decorative butterflies are placed along the left margin. The legend BANKY FOIBEN'I REPOBLIKA MALAGASY and the denomination ARIARY ZATO appear in letterpress across the face. |
|---|---|
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| Protection type | Log in to see details |
| Protection description | a zebu head, visible when held to light |
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| Comments |
Madagascar's dual-denomination system — Malagasy Ariary running alongside the CFA-linked Franc — was formalized after independence but took years to fully implement in printed form. This note carries both units simultaneously, with the Ariary valued at exactly one-fifth of the Franc, a ratio that defined the transitional monetary framework through the 1970s.
Thomas De La Rue printed the series from London throughout this period, a continuation of the colonial-era printing relationship that persisted well into the republic's post-independence decades.