01/01/2023: Planned Fourth Redenomination of Ariary
Madagascar announces plans for the fourth redenomination of the Ariary, aiming to simplify the currency system further.
16/03/2021: New 5 Rial Polymer Banknote Introduced
A new polymer banknote with a denomination of 5 rials was introduced, enhancing durability and security features of the currency.
01/01/2017: Third Redenomination of Ariary
The Malagasy Ariary experiences its third redenomination, resulting in the currency being divided by 5, making 1 new Ariary equal to 5 old Ariary.
01/08/2003: Second Redenomination of Ariary
The Malagasy Ariary goes through its second redenomination, with 1 new Ariary equal to 5 old Ariary.
15/01/2003: New Omani Rial Banknotes Issued
New series of Omani rial banknotes were introduced, featuring enhanced security features and updated designs.
12/06/1994: Smaller Denomination Coins Issued
Small denomination coins, including 5, 10, 25, and 50 baisa coins, were issued in order to facilitate everyday transactions.
16/12/1993: First Redenomination of Ariary
The Malagasy Ariary undergoes its first redenomination, replacing the currency at a ratio of 1 new Ariary to 5 old Ariary.
17/03/1986: 200 Baisa Coin Introduced
A new 200 baisa coin was introduced, becoming the highest denomination coin in circulation at that time.
01/01/1983: Introduction of Malagasy Ariary
The Malagasy Ariary is introduced as the new official currency of Madagascar, replacing the Malagasy Franc.
11/11/1975: 1/8 Rial Copper-Nickel Coin Introduced
A new 1/8 rial coin made of copper-nickel was introduced, representing a fractional value of the rial currency.
26/06/1975: Independence of Madagascar
Madagascar declares independence from French colonial rule, leading to changes in the national currency.
02/03/1973: Rial Oman Pegged to US Dollar
The Omani rial was officially pegged to the United States dollar, with an exchange rate of 1 OMR = 2.895 USD.
27/07/1970: Rial Oman is Introduced
The Omani rial was introduced, replacing the Gulf rupee at a rate of 1 rial = 2.6008 rupees.
26/06/1961: Introduction of Malagasy Franc
Malagasy Franc introduced as the official currency of Madagascar to replace the French Franc.