Institut d’Émission Malgache

10-11-1954 Sig 2: Dupont/Gonon Series P 412 500 francs = 100 ariary

• 50 francs = 10 ariary (B101a)
• 50 francs = 10 ariary (B101b)
• 50 francs = 10 ariary (B101as)
• 100 francs = 20 ariary (B102a)
• 100 francs = 20 ariary (B102b)
• 100 francs = 20 ariary (B102bs)
• 500 francs = 100 ariary (B103a)
• 500 francs = 100 ariary (B103b)
• 500 francs = 100 ariary (B103c1)
• 500 francs = 100 ariary (B103c2)
• 500 francs = 100 ariary (B103d)
• 1,000 francs = 200 ariary (B104a)
• 1,000 francs = 200 ariary (B104b)
• 1,000 francs = 200 ariary (B104c)
• 1,000 francs = 200 ariary (B104d)
• 1,000 francs = 200 ariary (B104s1)
• 1,000 francs = 200 ariary (B104s2)
• 5,000 francs = 1,000 ariary (B105a)
• 5,000 francs = 1,000 ariary (B105b)
• 5,000 francs = 1,000 ariary (B105as)
• 5,000 francs = 1,000 ariary (B105bs)
• 1,000 francs = 200 ariary (B106a)
• 1,000 francs = 200 ariary (B106b)
• 1,000 francs = 200 ariary (B106as)
• 100 francs = roapolo (B107a)