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Madagascar Z note


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Hello folks,


I was recently flicking through a bundle of Madagascar 100 Ariary notes, P-86 2004.


I noticed the serials were going all funny, then a Z note, more funny numbers, then back to normal.




I couldn't find any info regards it, my catalogs end just before it was made.


It was a nice surprise to find it.


I placed the original pics off the Z note and the note immediately before it here.


Madagascar Z note P86 2004



Can anyone enlighten me as to what I have found.?

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It's a nice page of pictures of the banknotes (what a collection that would be!), but I don't see much "history" there unfortunately. One data point, Madagascar became independent of France in 1960, and left the CFA in 1973. You can see what happened to their banknotes during that transition.



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