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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 ...
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.
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.
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").
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.
CFP franc, currency used in the French overseas possessions; Common Fisheries Policy of EU; Science and technology. Canadian Family Physician, a peer-reviewed open ...
This was the last issue of a 2 franc coin for nearly 50 years. In 1958, 5, 10, and 25 franc coins were added, which were also used in French Cameroun. These bore the name Cameroun in addition to États de l'Afrique Equatoriale. In 1961, nickel 50 franc coins were introduced, followed by nickel 100 franc pieces in 1966.