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CFP franc
franc pacifique (French)
10,000 CFP Franc issued in 1985 (French Polynesia side)
10,000 CFP Franc issued in 1985 (French Polynesia side)
ISO 4217 Code XPF
User(s) Flag of French Polynesia French Polynesia
Flag of New Caledonia New Caledonia
Flag of Wallis and Futuna Wallis and Futuna
Inflation 2. ISO 4217 is the International standard describing three-letter codes (also known as the currency code) to define the names of currencies established French Polynesia ( French: Polynésie française, Tahitian: Pōrīnetia Farāni) is a French Overseas collectivity in the For the former North American fur-trading district see New Caledonia (Canada, and for the Scottish colony in Panama see Darien scheme. Wallis and Futuna, officially the Territory of Wallis and Futuna Islands ( French: Wallis et Futuna or Territoire des îles Wallis et Futuna, In economics inflation or price inflation is a rise in the general level of prices of goods and services over a period of time 3% (French Polynesia 2005 est. ), -0. 6% (New Caledonia 2000 est. )
Source The World Factbook
Pegged with XPF = 0. A fixed exchange rate, sometimes called a pegged exchange rate, is a type of Exchange rate regime wherein a Currency 's value is matched to the value of 00838 euro
Subunit
1/100 centime
Symbol F
Coins 1, 2, 5, 10, 20, 50, 100 francs
Banknotes 500, 1000, 5000, 10 000 francs
Central bank Institut d'émission d'Outre-Mer (IEOM)
Website www.ieom.fr

The CFP franc (called the franc in everyday use) is the currency used in the French overseas possessions of French Polynesia, New Caledonia and Wallis and Futuna. Please update other articles as well to avoid contradiction within Wikipedia e Centime (from Latin centesimus) is French for " cent " and is used in English as the name of the fraction Currency in several Francophone A currency sign is a graphic symbol often used as a shorthand for a Currency 's name A central bank, reserve bank, or monetary authority is the entity responsible for the Monetary policy of a country or of a group of member states The CFP franc (called the franc in everyday use is the Currency used in the French overseas possessions of French Polynesia, New Caledonia A currency is a unit of exchange, facilitating the transfer of Goods and/or services It is one form of Money, where money is This article is about the country For a topic outline on this subject see List of basic France topics. French Polynesia ( French: Polynésie française, Tahitian: Pōrīnetia Farāni) is a French Overseas collectivity in the For the former North American fur-trading district see New Caledonia (Canada, and for the Scottish colony in Panama see Darien scheme. Wallis and Futuna, officially the Territory of Wallis and Futuna Islands ( French: Wallis et Futuna or Territoire des îles Wallis et Futuna, The initials CFP originally stood for Colonies françaises du Pacifique ("French colonies of the Pacific") but now officially stand for Change Franc Pacifique ("Pacific Franc Exchange"). The ISO 4217 currency code is XPF. ISO 4217 is the International standard describing three-letter codes (also known as the currency code) to define the names of currencies established

Contents

History

The CFP franc was created in December 1945, at the same time as the CFA franc. Year 1945 ( MCMXLV) was a Common year starting on Monday (link will display the full calendar The CFA franc (in French: franc CFA, "céfa" or just franc colloquially is a currency used in twelve formerly French -ruled When France ratified the Bretton Woods Agreement in December 1945, the French franc was devalued from 200 francs = 1 British pound to 480 francs = 1 pound. The Bretton Woods system of monetary management established the rules for commercial and financial relations among the world's major industrial states The franc (represented by the franc sign ₣ or more commonly just F) is a former Currency of France. The Pound Sterling ( symbol £; ISO code: GBP) subdivided into 100 pence (singular penny) is the Currency New currencies were created in the French colonies, to spare them the strong devaluation of December 1945. René Pleven, the French minister of finance, was quoted saying: "In a show of her generosity and selflessness, metropolitan France, wishing not to impose on her far-away daughters the consequences of her own poverty, is setting different exchange rates for their currency. René Pleven (15 April 1901 – 13 January 1993 was a notable French politician of the Fourth Republic. Metropolitan France (France métropolitaine or la Métropole, or colloquially l'Hexagone) is the part of France located in Europe, including " The CFP franc was not devalued at all relative to the pound and U.S. dollar, leading to an initial exchange rate of 2. The United States dollar ( sign: $; code: USD) is the unit of Currency of the United States; it has also been 4French francs = 1 CFP franc. In January and October 1948 and again in April 1949, the French franc was devalued and new exchange rates to the CFP franc were adopted to hold the latter's value fixed. In September 1949, the pound was devalued relative to the dollar and the CFP franc's peg to the pound was abandoned in favour of a rate of 5. 5 French francs = 1 CFP franc. The exchange rates between the French and CFP francs were:

Date introduced Value of CFP franc in French francs
December 26, 1945 2. Events 1481 - Battle of Westbrook - Holland defeats troops of Utrecht. Year 1945 ( MCMXLV) was a Common year starting on Monday (link will display the full calendar 4
January 26, 1948 4. Events 1340 - King Edward III of England is declared King of France. Year 1948 ( MCMXLVIII) was a Leap year starting on Thursday (link will display the 1948 calendar of the Gregorian calendar. 32
October 18, 1948 5. Events 1009 - The Church of the Holy Sepulchre, a Christian church in Jerusalem, is completely destroyed by the Fatimid Year 1948 ( MCMXLVIII) was a Leap year starting on Thursday (link will display the 1948 calendar of the Gregorian calendar. 31
April 27, 1949 5. Events 1124 - David I becomes King of Scotland. 1296 - Battle of Dunbar: The Scots are defeated Year 1949 ( MCMXLIX) was a Common year starting on Saturday (link will display the full calendar of the Gregorian calendar. 485
September 20, 1949 5. Events 451 - The Battle of Chalons takes place in North Eastern France. Year 1949 ( MCMXLIX) was a Common year starting on Saturday (link will display the full calendar of the Gregorian calendar. 5

In 1960, the new franc (worth 100 old francs) was introduced in France and the exchange rate to the CFP franc consequently became 0. 055 French francs = 1 CFP franc. The CFP franc has been issued by the Institut d'émission d'outre-mer (I. E. O. M. , "Overseas Issuing Institute") since 1967. Year 1967 ( MCMLXVII) was a Common year starting on Sunday (link will display full calendar of the 1967 Gregorian calendar. The I. E. O. M. has its headquarters in Paris. Paris (ˈpærɨs in English; in French) is the Capital of France and the country's largest city

The currency was initially issued in three distinct forms for French Polynesia, New Caledonia and the New Hebrides, see French Polynesian franc, New Caledonian franc and New Hebrides franc. French Polynesia ( French: Polynésie française, Tahitian: Pōrīnetia Farāni) is a French Overseas collectivity in the For the former North American fur-trading district see New Caledonia (Canada, and for the Scottish colony in Panama see Darien scheme. Hebrides (disambiguation New Hebrides was the colonial name for an Island group in the South Pacific that now forms the nation of Vanuatu. The franc is the currency of French Polynesia. It is subdivided into 100 centimes. The franc is the currency of New Caledonia and Wallis and Futuna. The franc was the currency of the Anglo-French Condominium of the Pacific island group of the New Hebrides (which became Vanuatu in 1980 Wallis and Futuna use the New Caledonian franc. Wallis and Futuna, officially the Territory of Wallis and Futuna Islands ( French: Wallis et Futuna or Territoire des îles Wallis et Futuna, Although the banknotes of the New Hebrides bore the name of the territory, the notes of French Polynesia and New Caledonia could only be distinguished by the name of the capitals (Papeete and Nouméa, respectively) on the reverse of the notes. Papeete ("water from a basket" see footnote for variant spelling (papeʔete is the Capital of French Polynesia, an overseas territory

In 1969, the New Hebrides franc was separated from the CFP franc and has been subsequently replaced by the Vanuatu vatu in 1982. The vatu ( ISO 4217: VUV, sometimes Vt) is the currency of Vanuatu.

Since January 1, 1999, the CFP has had a fixed exchange rate to the euro of 1000 CFP francs = 8. New Year See also New Year The Ancient Romans began their consular year on January 1st since 153 BC Year 1999 ( MCMXCIX) was a Common year starting on Friday (link will display full 1999 Gregorian calendar) 38 euros. This change involved a very slight devaluation to round the value of 1000 CFP francs down to a whole number of euro cent.

1000 CFP francs = 55 French francs = € 55 / 6. The franc (represented by the franc sign ₣ or more commonly just F) is a former Currency of France. 55957 ~ € 8. 38384696

Coins

In 1949, New Caledonia and what was then called French Oceania (now French Polynesia) began to issue coins. The coins have been separated in two types: the obverses are identical, whilst the reverses are distinct. Both types of coins can be used in all three French territories. The situation of the CFP coins is thus quite similar to that of the euro coins, which have a national side but can be used in all countries of the euro zone. Linguistic Euro Enlargement of the

The New Hebrides franc had a different history of coin issuance before being replaced by the Vanuatu vatu in 1982. The franc was the currency of the Anglo-French Condominium of the Pacific island group of the New Hebrides (which became Vanuatu in 1980 The vatu ( ISO 4217: VUV, sometimes Vt) is the currency of Vanuatu.

Banknotes

The IEOM began issuing banknotes in New Hebrides in 1965, and in New Caledonia and French Polynesia in 1969. In 1985, a new banknote, the 10,000 francs, was introduced which did not bear any distinguishing mark and was common to both French Polynesia and New Caledonia. These were followed, between 1992 and 1996, by 500, 1000 and 5000 franc notes for all of the French Pacific Territories.

The overall design has not changed since 1969. One side shows landscapes or historical figures of New Caledonia, while the other side of the banknotes shows landscapes or historical figures of French Polynesia.

Tārā

Before the French regulated the currency on Tahiti, French Polynesia, traders often used the Chilean peso, known in English as a dollar. Tahiti is the largest Island in the Windward group of French Polynesia, located in the Archipelago of Society Islands in the French Polynesia ( French: Polynésie française, Tahitian: Pōrīnetia Farāni) is a French Overseas collectivity in the The peso is the Currency of Chile. The current peso has circulated since 1975 with a previous version circulating between 1817 and 1960 English is a West Germanic language originating in England and is the First language for most people in the United Kingdom, the United States The word "dollar" became tārā (often written without accents as tara), and this term is still used among native Tahitian and local Chinese traders as an unofficial unit, worth 5 francs. Thus for a price of 200 francs, one would say tārā e maha-ʻahuru (40 tārā) in Tahitian. Tahitian, a Tahitic language, is one of the two official languages of French Polynesia (along with French)

Current XPF exchange rates
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See also

References

External links

Dictionary

CFP franc

-noun

  1. The currency of French Polynesia, New Caledonia and Wallis and Futana.
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