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The CFP franc was created in December 1945, together with the CFA franc, used in Africa, because of the weakness of the French franc immediately after the Second World War. 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 .
The 500 and 5000 franc notes have had the state title since their introductions. The 100 franc notes were replaced by coins in 1976. In 1985, 10,000 franc notes common to all the French Pacific Territories were introduced. These were followed, between 1992 and 1996, by 500, 1000 and 5000 franc notes for all of the French Pacific Territories.
The 500 and 5000 franc notes have had the state title since their introductions. The 100 franc notes were replaced by coins in 1976. In 1985, 10,000 franc notes common to all the French Pacific Territories were introduced. Between 1992 and 1996, the remaining 500, 1000 and 5000 franc denominations were replaced with a similarly common design.
The high level of monetization of Wallisian and Futunian companies, as in the other French Pacific possessions, led to the creation of the Pacific franc in 1945 to maintain parity with the dollar, while the French franc had been devalued. [55]
In 1945, the CFP franc was introduced to insulate France's Pacific colonies from the devaluation of the French franc and the New Hebrides used a combination of New Caledonian franc coins and locally issued notes. In 1949, the CFP franc's relationship to the French franc stabilized at 5.5 French francs = 1 CFP franc.
The CFP franc was formerly linked at the exact official rate of 0.055 French francs to one Pacifique franc. When France switched its currency to the euro in 1999 this static link remained true, so that the rate is now about 119.26 Pacifique franc to one euro (1 euro being exactly 6.55957 French francs). In 2016 the exchange rate was 110.2 CFP ...
Tahiti's currency, the French Pacific Franc (CFP, also known as XPF), is pegged to the euro at 1 CFP = EUR .0084 (1 EUR = 119.48 CFP, approx. 113 CFP to the United States dollar in November 2024). Hotels and financial institutions offer exchange services.
USD Cent: 100 Brunei: Brunei dollar $ BND Sen: 100 Singapore dollar $ SGD Cent: 100 Bulgaria: Bulgarian lev: lv. BGN Stotinka: 100 Burkina Faso: West African CFA franc: F.CFA XOF Centime: 100 Burundi: Burundian franc: FBu BIF Centime: 100 Cambodia: Cambodian riel ៛ KHR Sen: 100 United States dollar $ USD Cent: 100 Cameroon: Central African ...