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Economy, Currency and Banking

centimes, currency unit, foreign investment, banks, average

The Malagasy franc, divided into 100 centimes, is the currency unit (6,767 Malagasy francs equal U.S.$1; 2000 average). The Central Bank of Madagascar (founded 1973) is the bank of issue. All banks were nationalized in 1975 but reopened to private and foreign investment beginning in the late 1980s.



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centimes, currency unit, foreign investment, banks, average

 
 

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