Madagascar franc

(redirected from Malagasy franc)
Also found in: Thesaurus, Financial, Acronyms, Wikipedia.
Related to Malagasy franc: Madagascan ariary
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.Madagascar franc - the basic unit of money in MadagascarMadagascar franc - the basic unit of money in Madagascar
franc - the basic monetary unit in many countries; equal to 100 centimes
Mentioned in ?
References in periodicals archive ?
And, in 1972, the ever-present image of former Governor General Joseph Gallieni on the colonial monetary currency, the Madagascar-Comores CFA franc, was replaced by depictions of local flora and fauna and classic, romanticized Malagasy ethnic portraiture on the newly minted Malagasy franc (renamed again in 2005 as the Malagasy ariary).
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.
Despite the weakness of the Malagasy franc, the government is eager to prevent currency appreciation in order to maintain export competitiveness.