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The livre was established by Charlemagne as a unit of account equal to one pound of silver. [citation needed] It was subdivided into 20 sous (also sols), each of 12 deniers.[citation needed] The word livre came from the Latin word libra, a Roman unit of weight and still the name of a pound in modern French, and the denier comes from the Roman denarius.
In France, the livre was worth 240 deniers (the "Tours penny"). These deniers were first minted by the abbey of Saint Martin, in the province of Touraine.Soon after Philip II of France seized the counties of Anjou and Touraine in 1203 and standardized the use of the livre tournois there, the livre tournois began to supersede the livre parisis (Paris pound) which had been up to that point the ...
The 1795 swapping of livres to francs at the rate of 1.0125 livres = 1 franc suggest that the 6-livre ecu contained 26.67 g fine silver while the reduced 24-livre Louis contained 6.88 g fine gold. The livre tournois was swapped in 1795 for the French Franc (or franc germinal), worth 4.5 g silver or 9 ⁄ 31 g = 0.29032 g gold (ratio 15.5), at a ...
After an initial period during which barter prevailed, the French livre began to circulate. In order to encourage coins into the colony, those circulating in New France were valued at a premium, creating a monnoye de pays (French monnaie de pays in Modern French) worth less than the French currency (monnoye de France, monnaie de France in Modern French).
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").
Countries that have made legal agreements with the EU to use the euro: Andorra, Monaco, San Marino, Vatican City; Countries that unilaterally use the euro: Montenegro, Kosovo; Currencies pegged to the euro: Cape Verdean escudo, CFA franc, CFP franc, Comorian franc, Bulgarian lev, Bosnia and Herzegovina convertible mark, São Tomé and Príncipe ...
The euro was established in 1999, but "for the first three years it was an invisible currency, used for accounting purposes only, e.g. in electronic payments". [2] In 2002, notes and coins began to circulate. The euro rapidly took over from the former national currencies and slowly expanded around the European Union.
The fifty euro note (€50) is one of the middle value euro banknotes and has been used since the introduction of the euro (in its cash form) in 2002. [6] The note is used in the 25 countries (and Kosovo ) that have it as their sole currency (with 24 legally adopting it), which countries have a total population of about 350 million currently. [ 7 ]