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BFM : 50 Ariary gold coins to mark 50th anniversary

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BFM : 50 Ariary gold coins to mark 50th anniversary

A gold coin valued at USD 2,700

The celebration of the 50th anniversary of the Central Bank of Madagascar (BFM) is drawing to a close. The President of the Republic and members of the government attended a ceremony marking the launch of the sale of 50-ariary commemorative gold coins.

The jubilee program began with the official issue of 50 ariary gold coins. Each coin has a mass of 1 Oz or 31.104 g. Like the 12.2 kg gold bars, these coins meet the most rigorous international standards. They are made from gold legally acquired by the BFM, then processed by the Gold refinery in Istanbul, Turkey.

These precious acquisitions represent both a source of national pride and economic value. Indeed, the price of a gram of gold on the world market is currently in excess of 75 USD. This sum fluctuates according to variations in supply and demand, as well as global exchange rates.

« This gold coin is valued at 12 million MGA (2,700 USD) », says President Andry Rajoelina on the occasion. If anyone wishes to buy one, all they have to do is register with BFM using their national identity card. Madagascar currently has over a tonne of gold in its official reserve. However, the President of the Republic aims to increase this reserve to 4 tonnes per year.

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