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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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The Malagasy franc lost half its value during the course of the year but the government is hoping for a fresh start with its new currency, the Ariary, which came into full use at the start of this year.
Although these currency control regulations have been abolished, the Malagasy franc remains inconvertible and may not be exported in large amounts.
Although these currency control regulations have been abolished, the Malagasy franc remains inconvertible and may not be exported in large amounts.
 
 
 
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