In 1993, notes for 500 ariary and 5000 ariary were introduced which bore the ariary denominations in numerals as well as the franc denominations (2500 and 25,000) in smaller numerals.
Coins and banknotes were issued denominated in both francs and ariary, with the sub-unit of the ariary, the "iraimbilanja", worth of an ariary and therefore equal to the franc.
In 1978, 10 and 20 ariary coins were issued which did not show the denomination in francs.
In 2003-2004, new notes were introduced in denominations of 100, 200, 500, 1000, 2000, 5000 and 10,000 ariary.
The names ariary and iraimbilanja derive from the pre-colonial currency, with ariary being the name for a silver dollar.
From 1961, banknotes were issued denominated in both francs and ariary.
Iraimbilanja means literally one iron weight and was the name of an old coin worth of an ariary.
Coins and banknotes were denominated in both the official francs and the semi-official ariary and iraimbilanja since 1961.
