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The CFP franc (French: Franc pacifique, called the franc in everyday use) is the currency used in the French overseas collectivities (French: collectivités d'outre-mer, or COM) of French Polynesia, New Caledonia, and Wallis and Futuna. The initials CFP originally stood for colonies françaises du Pacifique (lit.
The CFP franc is also issued in New Caledonia, and was used in the New Hebrides until 1982 after its 1980 re-establishment as the Republic of Vanuatu. Since 1985, CFP franc banknotes have been issued common to both French Polynesia and New Caledonia, although separate coinages continued until they were replaced with a single common set of CFP ...
In 1945, the CFP franc was introduced, with coins issued for New Caledonia from 1949. The CFP franc is also issued in French Polynesia, and was used in the New Hebrides until 1982 after its 1980 re-establishment as the Republic of Vanuatu. Since 1985, CFP franc banknotes have been issued common to both French Polynesia and New Caledonia.
Building at 115, rue Réaumur in Paris, the head office of IEOM and IEDOM. The Institut d'émission d'outre-mer (IEOM, lit. ' overseas institution of issue ') is a public bank of issue that issues the CFP franc, the currency of the French overseas collectivities French Polynesia, New Caledonia, and Wallis and Futuna.
From 1966, coins were produced in the name of the New Hebrides. In 1969, the New Hebrides franc broke away from the CFP franc and maintained the relationship with the Australian dollar of 100 francs = 1 dollar until 1973. In 1981, the franc was replaced at par by the vatu following independence as Vanuatu. The Australian dollar continued to ...
The legal tender of French Polynesia is the CFP franc which has a fixed exchange rate with the euro. The nominal gross domestic product (or GDP) of French Polynesia in 2019 was 6.01 billion U.S. dollars at market exchange rates, the seventh-largest economy in Oceania after Australia , New Zealand , Hawaii , Papua New Guinea , New Caledonia ...
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The CFA franc was created on 26 December 1945, along with the CFP franc. The reason for their creation was the weakness of the French franc immediately after World War II. When France ratified the Bretton Woods Agreement in December 1945, the French franc was devalued in order to set a fixed exchange rate with the US dollar.