Malagasy Ariary

(redirected from Madagascar Ariary)

Malagasy Ariary

The currency of Madagascar. Issued in 1961, it existed alongside the Malagasy franc until 2005, during which time one ariary was equal to five francs. It is divided into five iraimbilanja, making it one of two currencies in the world not divided into 100 subunits.
References in periodicals archive ?
All costs were converted to US dollars using the average exchange rate during the study period (US$1 = 1,802 Madagascar Ariary).