Luxembourg Franc

Luxembourg Franc
Country:	Luxembourg Luxembourg
Subdivision:	100 centimes
ISO 4217 code :	LUF
Abbreviation:	Flux, lfr
Exchange rate : (fixed)	1 EUR = 40.3399 LUF 1 LUF = 0.0247894 EUR

The Luxembourg franc is the former currency unit of Luxembourg . In German it was also called Franconia , in Luxembourgish it is called Frang .

The sub-unit was the centime , which was no longer to be found in the Luxembourg purses; 100 centimes made one franc. ISO 4217 code was LUF.

history

On December 19, 1918, Luxembourg left the German Customs Union , which also raised the question of a new currency. In 1921 the UEBL (Union Economique Belgo-Luxembourgoise) was ratified, which envisaged the Belgian franc as the Union currency , but left the Grand Duchy of Luxembourg the right to issue its own coins and banknotes. As initial equipment, the Luxembourg state received 175 million Belgian francs in banknotes and coins, which were exchanged for 200 million marks. The mark was replaced and the common currency of Luxembourg and Belgium was introduced: Since 1946, 1 LUF (Luxemburger Franc) = 1 BEF ( Belgian franc ), before the Second World War the rate was 1.25 Bfr. Theoretically, the currencies were valid alternately in both countries; in practice, however, it sometimes happened that Luxembourg banknotes were not accepted in Belgium.

From 1999, the Luxembourg franc was pegged to the euro at the rate of 40.3399 LUF = 1 EUR. In 2002, the euro cash was introduced and the franc disappeared.