2017-07-22 Sat

The Central Bank of Madagascar released a new range of banknotes this month. The first group of the 20,000-, 10,000-, 5,000- and 2,000-ariary banknotes was released on 17th July. 1,000-, 500-, 200- and 100-ariary banknotes will be released on 18th September.

Officials stated that this release is a national challenge for the Malagasy economy. The existing banknotes have been in circulation for more than 12 years now. The new range of banknotes is modern, more secure and convenient. New security features have been introduced in an effort to restrict counterfeiting activities. The new 20,000-ariary bill has been introduced to improve the economy. The main theme of the series is “Wealth of Madagascar” and they will feature interesting graphics to make them more identifiable.

Poster campaign at important financial locations; AVs on TV and ads on radio channels; a travelling communication through the main cities, WEB and in the written press are all being used to create awareness about the new range of bank notes.

Citizens are being asked to be careful about fake bank notes. Old bills should not be exchanged with new ones for a lower value. The old bills will keep circulating along with the new ones and hence there is no need for getting them exchanged in a hurry.