The currency of Madagascar is the Malagasy Ariary (MGA). Introduced in 2005, the ariary replaced the Malagasy franc at a rate of 1 ariary equal to 5 francs. The ariary is unique because it is the only currency in the world that is subdivided into units called "iraimbilanja," with 1 ariary equating to 5 iraimbilanja. Madagascar's economy is primarily based on agriculture, and the currency is crucial for everyday transactions in the country, particularly for the purchase of local goods and services. Economic challenges and fluctuations have affected the value of the Malagasy Ariary, impacting trade and the cost of living for residents.