Malagasy Franc

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Malagasy Franc

The currency of Madagascar from the early 1970s until 2005. From 1963 until the early 1970s, Madagascar belonged to the Financial Community of Africa, but subsequently issued the franc, pegging it to the French franc. An inconvertible currency, it underwent a series of devaluations and floated in the last period of time prior to its abolition. It existed alongside the Malagasy ariary, which is the current currency in Madagascar.
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