On 26 November 2019 the Government of Madagascar ordered the withdrawal of circulation of all the banknotes of the 2003-2004 types.
The banknotes included in this measure are:
MGA100.1 100 ariary
MGA200.1 200 ariary
MGA500.1 500 ariary
MGA1,000.1 1,000 ariary
MGA2,000.1 2,000 ariary
MGA5,000.1 5,000 ariary
MGA10,000.1 10,000 ariary
All these notes are legal tender until 31 December 2019. From 2 January until 31 December 2020 they are redeemable at the branches of the Central Bank, commercial banks, and offices of the Trésor Public in places where there are no banks. From 4 January 2021 until 30 June 2021 these notes are exchangeable only at the offices of the Central Bank.
There is limit of MGA5,000,000 per person for redemptions at the Central Bank and offices of the Trésor Public. Large amounts must be deposited to bank accounts.
Courtesy: Pau-Henri Longuet
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