Comoros Franc

Comoros Franc
Country:	Comoros
Subdivision:	100 centimes
ISO 4217 code :	KMF
Abbreviation:	FC
Exchange rate : (August 27, 2020)	1  EUR  = 491.96775 KMF (fixed) 1  EUR  = 491.96775 KMF 1,000 KMF = 2.0327 EUR 1  CHF  = 457.64442 KMF 1,000 KMF = 2.1851 CHF

The Comorian Franc ( French Franc Comorien ) is the currency of the Comoros . The ISO 4217 code is KMF. It is divided into 100 centimes , but there are no centime coins. The Comoros Franc is pegged to the Euro (1 EUR = 491.96775 KMF).

history

During the French colonial rule, the Comoros initially used the French franc and from 1948 the Franc Malagasy . In 1950, the Banque de Madagascar et des Comores was established as the common central bank for Madagascar and the Comoros. When Madagascar was granted independence in June 1960, the Comoros initially remained with France. From April 1, 1962, the common banknotes that had been used until then were provided with a red COMORES imprint on the Comoros. These banknotes existed in denominations of 50, 100, 500, 1000 and 5000 francs, and from 1964 there were also coins of 1, 2, 5, 10 and 20 francs.

100 Francs from 1962 with red COMORES imprint

The temporary imprints were only replaced in 1976 after the independence of the Comoros with new banknotes issued by the Institut d'Emission des Comores . In 1984 the newly created Banque Central des Comores took over the issuance of banknotes made in France. When it was introduced in 1962, the Comorian franc was pegged to the French franc at a ratio of 50 KMF = 1 FRF. In 1994 it was devalued and the exchange rate was set at 75 KMF = 1 FRF. When the euro was introduced , the Comorian franc was pegged to the new currency with the same value, resulting in an exchange rate of 1 EUR = 491.96775 KMF.

Individual evidence

1. ↑ Images of the coins on a private homepage , accessed on March 8, 2011

literature

• Abal marking Abdou Chacourou: Franc comorien . L'Harmattan, 2003, ISBN 2-7475-4843-0 . (French)