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The franc (/ f r æ ŋ k /; French: franc français, [fʁɑ̃ fʁɑ̃sɛ]; sign: F or Fr), [n 2] also commonly distinguished as the French franc (FF), was a currency of France.Between 1360 and 1641, it was the name of coins worth 1 livre tournois and it remained in common parlance as a term for this amount of money.
The Plaza Accord was a joint agreement signed on September 22, 1985, at the Plaza Hotel in New York City, between France, West Germany, Japan, the United Kingdom, and the United States, to depreciate the U.S. dollar in relation to the French franc, the German Deutsche Mark, the Japanese yen and the British pound sterling by intervening in currency markets.
Half Louis d’or of Louis XIII (1643) [nb 2] The Louis d'or (a gold coin) replaced the franc which had been in circulation (in theory) since John II.In actual practice the principal gold coin circulating in France in the earlier 17th century had been Spanish: the 6.7-gram double escudo or "doubloon", of which the Louis d'or was an explicit copy.
The franc is any of various units of currency.One franc is typically divided into 100 centimes.The name is said to derive from the Latin inscription francorum rex (King of the Franks) used on early French coins and until the 18th century, or from the French franc, meaning "frank" (and "free" in certain contexts, such as coup franc, "free kick").
26 December 1945 to 20 September 1949 – Fixed exchange with the US dollar at US$1 = F.CFP 49.60. Non-fixed exchange rate with the old French franc, which devalued four times vs. the US dollar. From F.CFP 1 = FF 2.40 (FF = French franc) in December 1945, the exchange rate reached F.CFP 1 = FF 5.50 in September 1949.
By the late 1960s, France's economic growth, while strong, was beginning to lose steam. Due to the impact of the 1968 social upheaval on the French economy, speculators bet against the French franc. The financial pressure from currency outflows led the government to devalue the franc against the German mark and the US dollar in 1969.
Before 1890, the French franc and Canadian dollar both circulated on the islands. These were supplemented with local banknotes of the Banque des Îles Saint-Pierre-et-Miquelon from 1890. The exchange rate of 5.4 francs = 1 dollar was used on the island, although the exchange rate from the two gold standards was 5.1826 francs = 1 dollar.
In 1966, silver 100 franc coins were introduced. These were followed by nickel 10 and 20 francs in 1967, nickel-brass 1, 2 and 5 francs in 1970 and nickel 50 francs in 1972. Only the nickel coins (10, 20, and 50 francs) were the same size, composition, and obverse as the corresponding French Polynesian and New Caledonian coins.