Comorian franc franc comorien (French) فرنك قمري (Arabic)
The new 2000-franc note 100 francs
ISO 4217 Code	KMF
User(s)	Comoros
Inflation	3%
Source	The World Factbook, 2005 est. ISO 4217 is the International standard describing three-letter codes (also known as the currency code) to define the names of currencies established The Comoros (ˈkɒməroʊz; جزر القمر Juzur al-Qumur) officially the Union of the Comoros (Union des Comores الإتّحاد القمريّ In economics inflation or price inflation is a rise in the general level of prices of goods and services over a period of time
Pegged with	euro = 491. 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 Please update other articles as well to avoid contradiction within Wikipedia e 96775 francs
Subunit
1/100	centime no longer used
Coins
Freq. Centime (from Latin centesimus) is French for " cent " and is used in English as the name of the fraction Currency in several Francophone used	25, 50, 100 francs
Rarely used	1, 2, 5, 10 francs
Banknotes	500, 1000, 2000, 5000, 10000 francs
Central bank	Banque Centrale des Comores
Website	www.bancecom.com
Printer	Banque de France
Website	www.banque-france.fr
Mint	Monnaie de Paris
Website	www.monnaiedeparis.com

The franc (French: franc comorien; Arabic: فرنك قمري) (ISO 4217 currency code KMF) is the official currency of Comoros. 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 Central Bank of the Comoros (Banque Centrale des Comores BCC is the Central bank of The Comoros, a group of islands in the Indian Ocean. A printer is a company that provides commercial Printing services often also offering Typesetting and Book-binding services The Banque de France is the Central bank of France; it is linked to the European Central Bank (ECB A mint is an industrial facility which manufactures Coins for Currency. The Monnaie de Paris (Paris Mint) or more administratively speaking the "Direction of Coins and Medals" is an administration of the French ( français,) is a Romance language spoken around the world by 118 million people as a native language and by about 180 to 260 million people Arabic (ar الْعَرَبيّة (informally ar عَرَبيْ) in terms of the number of speakers is the largest living member of the Semitic language ISO 4217 is the International standard describing three-letter codes (also known as the currency code) to define the names of currencies established A currency is a unit of exchange, facilitating the transfer of Goods and/or services It is one form of Money, where money is The Comoros (ˈkɒməroʊz; جزر القمر Juzur al-Qumur) officially the Union of the Comoros (Union des Comores الإتّحاد القمريّ It is subdivided into 100 centimes, although the centime is no longer used.

Contents 1 History 1.1 European Monetary Union 2 Central Bank 3 Coins 4 Banknotes 5 See also 6 References 7 External links

History

The French franc became the currency of Comoros after the islands became a French protectorate in 1886. The franc (represented by the franc sign ₣ or more commonly just F) is a former Currency of France. In 1891, Sultan Said Ali of Anjouan issued coins denominated in centimes and francs which circulated alongside French currency. Anjouan (also known as Ndzuwani or Nzwani) is an autonomous Island of the Union of Comoros. In 1912, the Comoros became a province of Madagascar, which was a French possession. Madagascar, or Republic of Madagascar (older name Malagasy Republic) is an Island nation in the Indian Ocean off the southeastern France was a dominant empire in the world from the 1600s to the late 1960s possessing many colonies in various locations around the world French banknotes and coins circulated in the colony. Apart from an emergency issue of small change notes in 1920, the French currency circulated alone until 1925.

On 1 July 1925, the French government formed an agreement with the Banque de Paris et des Pays-Bas to create the Banque de Madagascar, headquartered in Paris, and granted it a private monopoly to issue currency for the colony of Madagascar. "July 1st" redirects here For the Ayumi Hamasaki song see H (song. Year 1925 ( MCMXXV) was a Common year starting on Thursday (link will display the full calendar of the Gregorian calendar. BNP Paribas () is one of the main Banks in Europe. It was created on 23 May 2000 through the merger of Banque Nationale de Paris (BNP and Paribas In Economics, a government-granted monopoly (also called a "de jure monopoly" is a form of Coercive monopoly by which a government grants exclusive privilege Monetary authority is a generic term in Finance and Economics for the entity which controls the Money supply of a given Currency, and has the The Malagasy franc (French: franc malgace) was equivalent tot the French franc and French coins continued to circulate as Madagascar had no coins of its own until 1943. The franc ( French: franc malgache, ISO 4217 code MGF) was the Currency of Madagascar until January 1, 2005

When the Comoros became a separate French territory in 1945, the name of the issuing bank was changed to the Banque de Madagascar et des Comores (still headquartered in Paris). A branch office opened in Comoros in 1953. While the banknotes were changed to reflect the new status of Comoros, the coins were not changed and bore only the name Madagascar. On 26 December 1945, the Madagascar-Comores CFA franc was established and its value was fixed at 1. 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 The CFA franc (in French: franc CFA, "céfa" or just franc colloquially is a currency used in twelve formerly French -ruled 7 French francs. The franc (represented by the franc sign ₣ or more commonly just F) is a former Currency of France. Old Madagascar coins and banknotes continued to circulate as this new currency. On 17 October 1948, the CFA franc was revalued to 2 French francs. Events 539 BC - King Cyrus The Great of Persia marches into the city of Babylon, releasing the Jews from almost Year 1948 ( MCMXLVIII) was a Leap year starting on Thursday (link will display the 1948 calendar of the Gregorian calendar.

In 1950, the French government took over majority ownership of the Banque de Madagascar et des Comores. On 1 January 1960, the French franc was revalued, with 100 old francs becoming 1 new franc. New Year See also New Year The Ancient Romans began their consular year on January 1st since 153 BC Year 1960 ( MCMLX) was a Leap year starting on Friday (link will display full calendar of the Gregorian calendar. (Décret n°59-1450 du 22 décembre 1959) The new exchange rate was 1 Madagascar-Comores CFA franc = 0. 02 French francs (50 Madagascar-Comores CFA francs = 1 French franc).

On 26 June 1960, Madagascar gained independence from France, and the Institut d'Émission Malgache (headquartered in Antananarivo) was created to issue currency only for Madagascar. Events 363 - Roman Emperor Julian is killed during the retreat from the Sassanid Empire. Year 1960 ( MCMLX) was a Leap year starting on Friday (link will display full calendar of the Gregorian calendar. Antananarivo (ˌtəˌnænəˈriːv or /ˌtəˌnɑːnəˈriːv/ is the Capital and largest city in Madagascar. Madagascar left the CFA zone effective 1 July 1973. "July 1st" redirects here For the Ayumi Hamasaki song see H (song. Year 1973 ( MCMLXXIII) was a Common year starting on Monday (link will display full calendar of the 1973 Gregorian calendar.

On 23 November 1979, the government of Comoros signed the Accord de coopération monétaire entre la République Française et la République fédérale islamique des Comores, a monetary cooperation agreement with France, making Comoros part of the franc zone (but not part of the CFA franc zone). Events 800 - Charlemagne arrives at Rome to investigate the alleged crimes of Year 1979 ( MCMLXXIX) was a Common year starting on Monday (link displays the 1979 Gregorian calendar) This article is about the country For a topic outline on this subject see List of basic France topics. The CFA franc (in French: franc CFA, "céfa" or just franc colloquially is a currency used in twelve formerly French -ruled This agreement provided for the establishment of a system of fixed parity between the French franc and the Comorian franc and free convertibility between the two currencies, guaranteed by the Comorian central bank's opening of an operations account (compte d'operation) at the French Treasury (Trésor public) to handle all exchange transactions. 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 The franc (represented by the franc sign ₣ or more commonly just F) is a former Currency of France. Convertibility is the quality of paper Money substitutes which entitles the holder to redeem them on demand into money proper A currency is a unit of exchange, facilitating the transfer of Goods and/or services It is one form of Money, where money is 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 Trésor public ("Public treasury" is the national administration of the Treasury in France. Sixty-five percent of the foreign exchange reserves of Comoros are held in euros in this account. Foreign exchange reserves (also called Forex reserves) in a strict sense are only the foreign Currency deposits held by Central banks and monetary Please update other articles as well to avoid contradiction within Wikipedia e This account is similar to overnight deposits with the French Treasury: it may bear interest and may, in special circumstances, post a negative balance. Interest is a fee paid on borrowed capital Assets lent include Money, Shares, Consumer goods through Hire purchase, major assets However, to prevent this account from showing a lasting overdraft, a number of preventative measures have been set up.

The stability of the Comorian franc is founded on tight monetary and credit discipline, underpinned by two specific safeguard measures: the central bank is required to maintain 20% foreign-exchange cover of its sight liabilities, and the government is not allowed to draw more than 20% of the previous year's budget receipts from their central bank funds. The ministers of finance of the franc area (France, the CFA zone and Comoros) meet biannually. The finance minister is a Cabinet position in a Government. A minister of Finance (also called financial affairs the treasury the economy or economic The agreement between France and the Comoros is essentially the same as the agreement France has with the CFA Zone. It is a continuation of a relationship of monetary cooperation between the two countries that has existed for more than a century.

Until 1994, the Comorian franc was pegged to the French franc at the rate of 50 Comorian francs to 1 French franc. The franc (represented by the franc sign ₣ or more commonly just F) is a former Currency of France. This was changed on January 12, 1994, when the currency was devalued in concert with the CFA franc devaluation. Events 475 - Basiliscus becomes Byzantine Emperor, with a coronation ceremony in the Hebdomon palace in Constantinople Year 1994 ( MCMXCIV) was a Common year starting on Saturday (link will display full 1994 Gregorian calendar) Devaluation is a reduction in the value of a Currency with respect to other monetary units The CFA franc (in French: franc CFA, "céfa" or just franc colloquially is a currency used in twelve formerly French -ruled however, the Comorian franc was devalued 33⅓% to a new rate of 75 Comorian francs for 1 French franc, while the CFA franc's new rate was 100 CFA francs to 1 French franc. With the creation of the euro in January 1999, the Comorian franc was pegged, at its prevailing rate, to the new currency. Please update other articles as well to avoid contradiction within Wikipedia e 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 The exchange rate is now 491. In Finance, the exchange rates (also known as the foreign-exchange rate, forex rate or FX rate) between two currencies specifies how 96775 Comorian francs to 1 euro.

European Monetary Union

In 1998 in anticipation of European Monetary Union, the Council of the European Union addressed the monetary agreements France has with the CFA Zone and Comoros and ruled that:

• the agreements are unlikely to have any material effect on the monetary and exchange rate policy of the Euro zone
• in their present forms and states of implementation, the agreements are unlikely to present any obstacle to a smooth functioning of economic and monetary union
• nothing in the agreements can be construed as implying an obligation for the European Central Bank (ECB) or any national central bank to support the convertibility of the CFA and Comorian francs
• modifications to the existing agreements will not lead to any obligations for the European Central or any national central bank
• the French Treasury will guarantee the free convertibility at a fixed parity between the euro and the CFA and Comorian francs
• the competent French authorities shall keep the European Commission, the European Central Bank and the Economic and Financial Committee informed about the implementation of the agreements and inform the Committee prior to changes of the parity between the euro and the CFA and Comorian francs
• any change to the nature or scope of the agreements would require Council approval on the basis of a Commission recommendation and ECB consultation

Central Bank

The statutes of the Central Bank of the Comoros (Banque Centrale des Comores / البنك المركزي القمري Al-Bank al-Markazi al-Qomori) state that its Board of Directors shall have eight members who are chosen from the Comorian Government, the French Central Bank (Banque de France) and the French government. In economics a Monetary union is a situation where several countries have agreed to share a single currency amongst themselves The Council of the European Union is the principal decision making institution in the European Union (EU Monetary policy is the process by which the Government, Central bank, or monetary authority of a country controls (i the Supply of Money, The exchange rate regime is the way a country manages its Currency in respect to foreign currencies and the Foreign exchange market. Euro Enlargement of the The European Central Bank (ECB is one of the world's most important Central banks responsible for Monetary policy covering the 15 member countries of the 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 Please update other articles as well to avoid contradiction within Wikipedia e The European Commission (formally the Commission of the European Communities) is the executive branch of the European Union. A statute is a formal written enactment of a Legislative authority that governs a Country, State, City, or County. The Central Bank of the Comoros (Banque Centrale des Comores BCC is the Central bank of The Comoros, a group of islands in the Indian Ocean. The Banque de France is the Central bank of France; it is linked to the European Central Bank (ECB The government of France is a Semi-presidential system determined by the French Constitution of the fifth Republic, in which the nation declares The post of Deputy Director of the Central Bank of the Comoros is held by a Banque de France official, who is responsible for monetary policy. Monetary policy is the process by which the Government, Central bank, or monetary authority of a country controls (i the Supply of Money, Since 19 November 1999, all the central bank's official rates have been pegged to the Euro Overnight Index Average (EONIA) leading to a stabilisation of interest rate differentials with the euro. Events 1095 - The Council of Clermont, called by Pope Urban II to discuss sending the First Crusade to the Holy Land Year 1999 ( MCMXCIX) was a Common year starting on Friday (link will display full 1999 Gregorian calendar) Eonia ( E uro O ver' N' ight I ndex A verage is an effective overnight rate computed as a weighted average of all overnight unsecured lending Interest is a fee paid on borrowed capital Assets lent include Money, Shares, Consumer goods through Hire purchase, major assets The BCC applies a compulsory reserves system (30% of deposits) and a bank monitoring system. The reserve requirement (or required reserve ratio) is a Bank regulation that sets the minimum reserves each Bank must hold to customer The headquarters are located in Moroni, and the current bank governor is Mer Said Ahmed Said Ali. For other places people and things with the same name see Moroni Moroni (in Arabic موروني Mūrūnī) is the largest

Coins

In 1890, Sultan Said Ali of Anjouan issued bronze 5 and 10 centimes and silver 5 francs. Anjouan (also known as Ndzuwani or Nzwani) is an autonomous Island of the Union of Comoros. The coins were struck in Paris to the same specifications as the corresponding French coins. The three coins ceased to be valid in theory in 1912 but the lower two denominations were still turning up in general circulation as late as 1930. The two bronze coins are frequently used for magico-religious purposes. All three coins bore similar inscriptions, including the date 1308 AH, which corresponds to the Gregorian calendar years 1890/91 AD. The Islamic calendar or Muslim calendar ( Arabic: التقويم الهجري at-taqwīm al-hijrī; Persian: تقویم هجری قمری ‎ The Gregorian calendar is the most widely used Calendar in the world today

In the 1920s, a shortage of coins led to the issuance of private tokens by the principal colonial company on Ngazidja and a sugar plantation on Mayotte. Grande Comore (officially called Ngazidja and also known as Ngasidja) is an island in the Indian Ocean off the coast of Africa. Denominations included 25 and 50 centimes and 1 and 2 francs. Aluminium and bronze were used in these tokens.

50 francs, 1975

100 francs, 1977

In 1964, coins were introduced specifically for use in the Comoros, replacing the Madagascan coins previously in use. Aluminium 1, 2, and 5 francs and aluminium-bronze 10 and 20 francs coins were issued. In 1975, nickel 50 francs were introduced, followed by nickel 100 francs in 1977 and nickel 25 francs in 1981. Nickel-plated-steel replaced nickel after 1990. The Institut d'Émission des Comores issued coins between 1975 and 1977, whilst the Central Bank has issued coins since 1981.

Until 1975, only French appeared on Comorian coins. French ( français,) is a Romance language spoken around the world by 118 million people as a native language and by about 180 to 260 million people Since then, Arabic has also been used. Arabic (ar الْعَرَبيّة (informally ar عَرَبيْ) in terms of the number of speakers is the largest living member of the Semitic language

Coins of the Comorian franc
Obverse	Reverse	Denomination	Weight	Diameter	Composition
		1 franc	aluminium	23 mm
		2 francs	aluminium	27 mm	2. WikipediaNaming 2 g
		5 francs	aluminium	31 mm	3. 75 g
		10 francs	aluminium bronze	22 mm
		25 francs	nickel	20 mm	3. Aluminium bronze is a type of Bronze in which Aluminium is the main Alloying Metal added to Copper. Nickel (ˈnɪkəl is a metallic Chemical element with the symbol Ni and Atomic number 28 9 g
		50 francs	nickel	24 mm	6 g
		100 francs	nickel-plated steel	28 mm	10 g

Comorian coins have always been minted by the Monnaie de Paris. main - title Coin keywords numismatics coin review The Monnaie de Paris (Paris Mint) or more administratively speaking the "Direction of Coins and Medals" is an administration of the This is indicated by the cornucopia mint mark on the coins, visible to the left of the date. The cornucopia ( Latin: Cornu Copiae) is a symbol of food and abundance dating back to the 5th century BC, also referred to as horn 'o' plenty A mint mark is an inscription on a Coin indicating the mint where the coin was produced The coins are manufactured at their facility in Pessac, Gironde. Pessac (Peçac is a commune in the Gironde department in Aquitaine in southwestern France. Gironde (Gironda is a common name for the Gironde Estuary - sound where merge the mouths of the Garonne river and of the Dordogne river - and for

The 5-franc coin is nicknamed reali, referring to the Spanish real; the 2-franc coin is nicknamed nusu, meaning "half", and the 1-franc coin "robo", meaning "quarter". The real was a unit of currency in Spain for several centuries The 1-, 2-, 5- and 10-franc coins are rarely used because of their low value. The 25- and 100-franc coins contain the phrase "Augmentons la production alimentaire" (Let's increase food production). The 5-franc coin contains the phrase "Conférence Mondiale sur les Pêches" (World Conference on Fishing). Both of these phrases are references to programs by the United Nations Food and Agriculture Organization. The United Nations ( UN) is an International organization whose stated aims are to facilitate cooperation in International law, International security Comoros is one of 114 countries that have issued FAO coins. More information on FAO coins can be found here.

Banknotes

The first Comorian paper money was issued in 1920. It consisted of an emergency issue of Madagascan postage stamps fixed to card to allow them to circulate as money. A postage stamp is an adhesive paper evidence of pre-paying a fee for postal services Denominations of 50 centimes and 1 franc were issued.

Loi ordinaire 62-873 du 31 juillet 1962, Article 12, allowed the Banque de Madagascar et des Comores to continue issuing notes in Comoros after Madagascar began issuing its own currency but, beginning 1 April 1962, they had "COMORES" overstamped on them. Events 527 - Byzantine Emperor Justin I names his nephew Justinian I as co-ruler and successor to the throne Year 1962 ( MCMLXII) was a Common year starting on Monday (the link is to a full 1962 calendar of the Gregorian calendar. Denominations of 50, 100, 500, 1000 and 5000 francs were issued. As per Décret 64-1038 du 07 octobre 1964, banknotes without the overstamp ceased to be legal tender on 31 December 1964. Events 406 – Vandals, Alans and Suebians cross the Rhine, beginning an invasion of Gallia. Year 1964 ( MCMLXIV) was a Leap year starting on Wednesday (link will display full calendar of the 1964 Gregorian calendar.

The overstamped notes circulated until 1976, when 500, 1000 and 5000 francs were introduced by the Institut d'Émission des Comores, the 50 and 100 francs notes being replaced by coins. The central Bank took over production of paper money in 1984. 2500 and 10,000 francs notes were introduced in 1997, followed by 2000 francs in 2005. The 2500 francs note is being withdrawn from circulation.

Comorian banknotes are manufactured by the Banque de France at their paper mill in Vic-le-Comte and their printing works in Chamalières, both in Puy-de-Dôme, Auvergne. A banknote (often known as a bill, paper money or simply a note) is a kind of Negotiable instrument, a Promissory note made by a The Banque de France is the Central bank of France; it is linked to the European Central Bank (ECB A paper mill is a Factory devoted to making Paper from wood pulp and other ingredients using a Fourdrinier Machine or similar apparatus Printing is a process for reproducing text and image typically with ink on Paper using a printing press Chamalières is a town and commune in France, in the third-largest in the Puy-de-Dôme département. Puy-de-Dôme ( lo Puèi de Doma / lo Puèi Domat in the Auvergnat dialect of the Occitan language is a department Auvergne ( Occitan: Auvèrnhe / Auvèrnha) is one of the 26 administrative regions of France. The new 500, 1000, and 2000 franc notes contain the EURion constellation. The EURion constellation is a pattern of Symbols found on a number of Banknote designs since about 1996

Use Yahoo! Finance:	AUD CAD CHF EUR GBP HKD JPY USD
Use XE.com:	AUD CAD CHF EUR GBP HKD JPY USD
Use OANDA.com:	AUD CAD CHF EUR GBP HKD JPY USD

See also

Malagasy franc CFA franc CFP franc Currencies related to the euro

History of Comoros Economy of Comoros Economy of Mayotte Economy of Africa

References

External links

• (French) Banque Centrale des Comores official site
• (French) Text of the 1979 Comorian Agreement of Monetary Cooperation at Banque de France
• (English) Decision of the Council of Europe on 23 November 1998 regarding the CFA and Comorian francs
• (English) Franc zone information at Banque de France
• (French) Franc zone information at Banque de France (in French, but more extensive than the English version)
• (French) Central Bank of Madagascar

• Don's World Coin Gallery - Comoros
• Ron Wise's World Paper Money - Comoros ^{Mirror site}
• Tables of Modern Monetary Systems by Kurt Schuler - Comoros ^{Mirror site}
• The Global History of Currencies - Comoros
• Global Financial Data data series - Comores Franc
• Global Financial Data currency histories table ( Microsoft Excel format)
• Images of Comorian banknotes at Islamic Banknotes
• Numismatics of Comoros
• Numismatics of Comoros by Dr Iain Walker
• Coins of Comoros
• Comoros at Ben's FAO Coins collection
• (French) La fabrication des monnaies utilisées par les Comoriens
• (French) "Les Monnaies à Madagascar", Louis Molet
• A table of conversion rates between the euro and the Comorian franc

Events 800 - Charlemagne arrives at Rome to investigate the alleged crimes of Year 1998 ( MCMXCVIII) was a Common year starting on Thursday (link will display full 1998 Gregorian calendar)

---

© 2009 citizendia.org; parts available under the terms of GNU Free Documentation License, from http://en.wikipedia.org
Dapyx Software network: MP3 Explorer | Ebook Manager | Zenithic