CFP Franc

CFP Franc
Country:	French Polynesia New Caledonia Wallis and Futuna
Subdivision:	100 centimes
ISO 4217 code :	XPF
Abbreviation:	F, CFP
Exchange rate : (August 24, 2020)	8.38  EUR  = 1,000 XPF (fixed) 1  EUR  = 119.33 XPF 1,000 XPF = 8.38 EUR 1  CHF  = 110.89 XPF 1,000 XPF = 9.0177 CHF

Coins of 5 francs, French Polynesia on the left, New Caledonia on the right, the common reverse in the middle (representation of Minerva )

The CFP franc (originally franc des Colonies françaises du Pacifique ("Franc of the French Pacific Colonies ", today only as an abbreviation), ISO code XPF) has been the currency in the French overseas territories (territoires d'outre-mer) since December 1945 French Polynesia , New Caledonia, and Wallis and Futuna . Until 1965, banknotes issued by the Banque de l'Indochine were in circulation.

The parity was initially set at 2.40 French francs (Fr.) when it was introduced on December 26, 1945 . On December 17, 1948, the value was increased to CHF 5.50. Since January 1, 1959, 1000 XPF = 55 new francs. Since the introduction of the euro in France and the associated fixation of the French franc to the euro in 1999, the CFP franc has also been tied to the euro at an exchange rate of 1000 XPF = 8.38 EUR. This course can be changed by France if necessary.

There are banknotes of 10,000, 5000, 1000 and 500 francs in circulation , as well as coins of 100, 50, 20, 10, 5, 2 francs and 1 franc. New Caledonia and French Polynesia each have their own motifs on the coins; Wallis and Futuna use coins from New Caledonia.

Since President Jacques Chirac gave his approval in 2005 to replace the CFP franc with the euro in 2007 - provided the three affected territories would agree - this has been discussed in concrete terms in the affected areas. French Polynesia approved the introduction of the euro back in January 2006. Wallis and Futuna would like to join New Caledonia's decision, but no consensus has yet been found there, the topic is currently still being discussed (status 2010). The introduction of a new series of banknotes, which went into circulation from 2014, seems to indicate that the central bank believes that the status quo will be maintained for longer.

Web links

Commons : CFP Franc  - Collection of images, videos and audio files

• IEOM (Overseas Central Bank) site

Individual evidence

1. ↑ Helmut Kahnt, Bernd Knorr: Old dimensions, coins and weights. A lexicon. Bibliographisches Institut, Leipzig 1986, licensed edition Mannheim / Vienna / Zurich 1987, ISBN 3-411-02148-9 , p. 378.