Key facts
- Code
- MGA (numeric: 969 )
- Plural
- The language(s) of this currency do(es) not have a morphological plural distinction.
- Symbol
- Ar
- 1 5
- iraimbilanja ( franc )
- Freq used
- 100, 200, 500, 1000, 2000, 5000, 10,000 Ar
- Rarely used
- 20,000 Ar
- Replaced
- Malagasy franc
- User s
- Madagascar
- Central bank
- Banky Foiben'i Madagasikara
- Website
- www .banky-foibe .mg
- Inflation
- 8.8%
- Source
- The World Factbook , 2013 est.
via Wikipedia infobox
Article
The ariary (sign: Ar; ISO 4217 code MGA) is the currency of Madagascar. It is notionally subdivided into 5 iraimbilanja and is one of only two non-decimal currencies currently circulating (the other being the Mauritanian ouguiya). The names ariary and iraimbilanja derive from the pre-colonial currency, with ariary (from the Spanish word real) being the name for a silver dollar. Iraimbilanja means "one iron weight" and was the name of an old coin worth 1⁄5 of an ariary. However, as of May 2023, the unit is effectively obsolete since the iraimbilanja has practically no purchasing power, and the coins have fallen into disuse.
History