1 RMB (Chinese Yuan Renminbi - CNY) is approximately equal to 496.1237 MGA (Malagasy Ariary). It is the official currency of Madagascar denoted by the symbol Ar. The Ariary is one of only two circulating currencies in the world whose division units are not based on a power of ten. The MGA (Malagasy Ariary) was introduced in 1961, replacing the Malagasy Franc at 1 MGA (Malagasy Ariary) = 5 Francs. On January 1, 2005, the Ariary replaced the Franc as the official currency of Madagascar.