Madagascar currency: franc and ariary [solved]

Numista show:

• Madagascar – Franc (notgeld, 1920-1963)
  
• Madagascar – Franc (1925-1945)
  
• Madagascar – CFA franc (1945-1963)
  
• Madagascar – Ariary (1961-date)
  

According Wikipedia, until 2004 ariary was a superunit of franc, not a currency:
https://en.wikipedia.org/wiki/Malagasy_franc
https://en.wikipedia.org/wiki/Malagasy_ariary
so the correct is:

• Madagascar – Franc (notgeld, 1920-1963) // About this, I do not saw anything.
  
• Madagascar – Franc (1925-1945)
  
• Madagascar – CFA franc (1945-1972)
  
• Madagascar – Franc (1973-2004)
  
• Madagascar – Ariary (2005-date)
  

Is there a definite statement from the Madagascan government or central bank that the change occurred in 2004? Looking at the notes, ariary appeared in 1917, then was a permanent feature from 1961. The year 2004 marked the point when the numeral on the notes changed to the number of ariary. I wouldn't be at all happy about relying on Wikipedia, not least since the links to the central bank in the page are dead ends.

Hi, according Central Bank of Madagascar, Davidhs and Wikipedia are closer to reality than Numista, since the Franc was the official currency until 2003/2005, when the Ariary was adopted as the monetary unit.

https://www.banky-foibe.mg/historique_de_la_monnaie

Translation in english of the french article:

Following Madagascar's accession to independence on June 26, 1960, the Institut d'Emission Malgache was created, which ensured, within the framework of the Franc Zone, the issuance of a Malagasy currency.

As of July 1, 1963, the currency having legal tender on the territory of the Malagasy Republic took the name of "Malagasy Franc" (Fmg). The first 100F and 50F notes bearing the inscription “Famoahambolan’ny Repoblika Malagasy” (Malagasy Emission Institute) were issued in 1964. Then, in 1965, it was the turn of the 1F and 2F coins; in 1966, the 1000F banknotes and the 5F coin and in 1970, the 10F and 20F coins.

When Madagascar left the Franc Zone in 1972, the Malagasy Franc was declared inconvertible in November of that year and a foreign exchange regulatory system was put in place. The Central Bank of the Malagasy Republic (created by Ordinance No. 73-025 of June 12, 1973), which later became the Central Bank of Madagascar (created by Law No. 94-004 of June 10, 1994) took over is part of the Institut d'Emission Malgache in the area of ​​issuing banknotes and coins that are legal tender in Madagascar. The monetary unit remained the Malagasy Franc (Fmg), with the ISO code MGF.

Since July 31, 2003, the Malagasy monetary unit has become the ARIARY (Ariary = 5 Malagasy Francs), with the ISO code MGA, on the occasion of the launch of the fiduciary Ariary. From this date, new banknotes denominated in Ariary were issued, but with the counter-value in Malagasy Franc written in small characters on each side. It should be noted that the banknotes of the previous ranges were denominated in Franc Malagasy with mention of the counter-value "Ariary" written in figures and/or in letters in small characters.

After a transitional period during which all prices had to be denominated in the two monetary units (ARIARY and Fmg), the final changeover to the Ariary was made on January 1, 2005 on the occasion of the transition to the scriptural Ariary, following the provisions of Decree No. 2003-781 of July 8, 2003.

According that, maybe we can ue something like that:

• Madagascar – Franc (notgeld, 1920-1963) (???) // (100 Centimes = 1 Franc)
  
• Madagascar – Franc (1925-1945) // (100 Centimes = 1 Franc)
  
• Madagascar – CFA franc (1945-1963) // (100 Centimes = 1 Franc)
  
• Madagascar – Franc (1963-2003) // (5 Francs = 5 Iraimbilanja = 1 Ariary)
  
• Madagascar – Ariary (2003-date) // (5 Francs = 5 Iraimbilanja = 1 Ariary)
  

Yes, that seems to be broadly the right approach. However, we need to be careful about the overprinted notes dated 1961 as I see no reason to put them under the CFA franc.

Quote: "oynbcn"[...]
​According that, maybe we can ue something like that:​

• Madagascar – Franc (notgeld, 1920-1963) (???) // (100 Centimes = 1 Franc)​
  
• Madagascar – Franc (1925-1945) // (100 Centimes = 1 Franc)​
  
• Madagascar – CFA franc (1945-1963) // (100 Centimes = 1 Franc)​
  
• Madagascar – Franc (1963-2003) // (5 Francs = 5 Iraimbilanja = 1 Ariary)​
  
• Madagascar – Ariary (2003-date) // (5 Francs = 5 Iraimbilanja = 1 Ariary)​
  

I am agree with these new dates.

Quote: "ceh2019"​Yes, that seems to be broadly the right approach. However, we need to be careful about the overprinted notes dated 1961 as I see no reason to put them under the CFA franc.

​Perhaps, taking into account the first sentence of the translated article...

"Following Madagascar's accession to independence on June 26, 1960, the Institut d'Emission Malgache was created, which ensured, within the framework of the Franc Zone, the issuance of a Malagasy currency."

and in order to include the commented 1961 banknotes, we could establish the following divisions:

• Madagascar – Franc (notgeld, 1920-1963) (???) // (100 Centimes = 1 Franc)
  
• Madagascar – Franc (1925-1945) // (100 Centimes = 1 Franc)
  
• Madagascar – CFA franc (1945-1960) // (100 Centimes = 1 Franc)
  
• Madagascar – Franc (1960-2003) // (5 Francs = 5 Iraimbilanja = 1 Ariary)
  
• Madagascar – Ariary (2003-date) // (5 Francs = 5 Iraimbilanja = 1 Ariary)
  

"The final changeover to the Ariary was made on January 1, 2005 ..." So why break it up at 2003? Why not the divide be:

Madagascar – Franc (notgeld, 1920-1963) (???) // (100 Centimes = 1 Franc)
Madagascar – Franc (1925-1945) // (100 Centimes = 1 Franc)
Madagascar – CFA franc (1945-1963) // (100 Centimes = 1 Franc)
Madagascar – Franc (1963-2004) // (5 Francs = 5 Iraimbilanja = 1 Ariary)
Madagascar – Ariary (2005-date) // (5 Francs = 5 Iraimbilanja = 1 Ariary)


Personally, I don't see a reason to change it. I know I am outvoted, and that's OK.

Quote: "oynbcn"

Quote: "ceh2019"​Yes, that seems to be broadly the right approach. However, we need to be careful about the overprinted notes dated 1961 as I see no reason to put them under the CFA franc.

​​Perhaps, taking into account the first sentence of the translated article...
​
​"Following Madagascar's accession to independence on June 26, 1960, the Institut d'Emission Malgache was created, which ensured, within the framework of the Franc Zone, the issuance of a Malagasy currency."
​
​and in order to include the commented 1961 banknotes, we could establish the following divisions:​

• Madagascar – Franc (notgeld, 1920-1963) (???) // (100 Centimes = 1 Franc)​
  
• Madagascar – Franc (1925-1945) // (100 Centimes = 1 Franc)​
  
• Madagascar – CFA franc (1945-1960) // (100 Centimes = 1 Franc)​
  
• Madagascar – Franc (1960-2003) // (5 Francs = 5 Iraimbilanja = 1 Ariary)​
  
• Madagascar – Ariary (2003-date) // (5 Francs = 5 Iraimbilanja = 1 Ariary)​
  

​I think the correct is the second paragraph:

Quote: "oynbcn"​​As of July 1, 1963, the currency having legal tender on the territory of the Malagasy Republic took the name of "Malagasy Franc" (Fmg).

In 1960 the Institut d'Emission Malgache was created, but the new currency was created (or legal?) in 1963.

-----------------

Quote: "JRo69"​"The final changeover to the Ariary was made on January 1, 2005 ..." So why break it up at 2003? Why not the divide be:
​
​Madagascar – Franc (notgeld, 1920-1963) (???) // (100 Centimes = 1 Franc)
​Madagascar – Franc (1925-1945) // (100 Centimes = 1 Franc)
​Madagascar – CFA franc (1945-1963) // (100 Centimes = 1 Franc)
​Madagascar – Franc (1963-2004) // (5 Francs = 5 Iraimbilanja = 1 Ariary)
​Madagascar – Ariary (2005-date) // (5 Francs = 5 Iraimbilanja = 1 Ariary)
​​
​Personally, I don't see a reason to change it. I know I am outvoted, and that's OK.

​About this, I do not know if correct is 2003 or 2005. Perhaps between 2003-2005 was legal both currencies (as euro and pre-euro currencies in 1999-2001).

Taking into account what you say, it really seems that from the middle of 2003 to the end of 2004 there is a transition period, but considering the following paragraph:

"Since July 31, 2003, the Malagasy monetary unit has become the ARIARY (Ariary = 5 Malagasy Francs), with the ISO code MGA, on the occasion of the launch of the fiduciary Ariary. From this date, new banknotes denominated in Ariary were issued, but with the counter-value in Malagasy Franc written in small characters on each side. It should be noted that the banknotes of the previous ranges were denominated in Franc Malagasy with mention of the counter-value "Ariary" written in figures and/or in letters in small characters."

And to the following coins and bills:



We see coins denomination only in Ariary begin in 2003, and banknote change denomination in 2004, so I think the correct thing would be the following:

• Madagascar – Franc (notgeld, 1920-1963) (???) // (100 Centimes = 1 Franc)
  
• Madagascar – Franc (1925-1945) // (100 Centimes = 1 Franc)
  
• Madagascar – CFA franc (1945-1960 or 1963) // (100 Centimes = 1 Franc)
  
• Madagascar – Franc (1960 or 1963-2004) // (5 Francs = 5 Iraimbilanja = 1 Ariary)
  
• Madagascar – Ariary (2003-date) // (5 Francs = 5 Iraimbilanja = 1 Ariary)
  

Quote: "oynbcn"

• Madagascar – Franc (1960 or 1963-2004) // (5 Francs = 5 Iraimbilanja = 1 Ariary)
  
• ​Madagascar – Ariary (2003-date) // (5 Francs = 5 Iraimbilanja = 1 Ariary)​
  

Yes.

Thank you all for thorough research on this. Currencies are set, coins/notes can be reassigned.

Many thanks Jarcek, modification rquests done for coins

And modification requests done for banknotes, too.