Malagasy Franc

The Malagasy franc was introduced on July 1 , 1925 , by the French government for use in its Malagasy colony. The currency was issued by the Banque de Madagascar. When the Comoro Islands became a separate French territory, the name of the issuing bank was changed to '''Banque de Madagascar et des Comores'''. The Madagascar-Comores CFA Franc (XMCF) replaced the Malagasy franc on December 26 , 1945 , with the creation of the other CFA francs.

After independence from France, Madagascar began issuing its own franc (MGF) currency on July 1 , 1963 , with the same value. Madagascar left the CFA Franc Zone in 1972 , and the Malagasy franc was declared Inconvertible . Banknote s were issued by the Institut d'Émission Malgache until 1974 when the Central Bank of Madgascar took over that function.

It has since undergone a series of Devaluation s and is finally Floating freely. On January 1 , 2005 , it was replaced by the Ariary at a rate of 5 francs to the ariary. The ariary had existed previously but only as a unit of account.

Coin s

1 Franc

2 Francs

5 Francs

10 Francs

20 Francs

25 Francs

50 Francs

100 Francs

250 Francs

Banknote

1,000 Francs

2,500 Francs

5,000 Francs

10,000 Francs

25,000 Francs

Information About

Malagasy Franc