Following independence from the Kingdom of the Netherlands, the new Kingdom of Belgium in 1832 adopted its own Belgian franc, equivalent to the French one, followed by Luxembourg adopting the Luxembourgish franc in 1848 and Switzerland in 1850. The conquest of most of western Europe by Revolutionary and Napoleonic France led to the franc's wide circulation. Main articles: Belgian franc and Luxembourgish franc Since 1999, the currency has been pegged to the euro.īelgian franc and Luxembourgish franc In January 1994, the rate was changed to 75 Comorian francs to the French franc. Originally, 50 Comorian francs were worth 1 French franc. In 1981, The Comoros established an arrangement with the French government similar to that of the CFA franc. Ī separate ( franc CFP) circulates in France's Pacific territories, worth €0.0084 (formerly 0.055 French franc). On 22 December 2019, it was announced that the CFA franc would be replaced in 2020 by an independent currency to be called Eco. Therefore, from January 1999, 1 CFA franc is equivalent to €0.00152449. CFA and CFP francs įourteen African countries use the franc CFA (in west Africa, Communauté financière africaine in equatorial Africa, Coopération financière en Afrique centrale), originally (1945) worth 1.7 French francs and then from 1948, 2 francs (from 1960: 0.02 new franc) but after January 1994 worth only 0.01 French franc. The value of the French franc was locked to the euro at 1 euro = 6.55957 FRF on 31 December 1998, and after the introduction of the euro notes and coins, ceased to be legal tender after 28 February 2002, although they were still exchangeable at banks until 19 February 2012. Today, after independence, many of these countries continue to use the franc as their standard denomination.
The franc was also minted for many of the former French colonies, such as Morocco, Algeria, French West Africa, and others. Though abolished as a legal coin by King Louis XIII in 1641 in favor of the gold louis and silver écu, the term franc continued to be used in common parlance for the livre tournois. The franc finally became the national currency from 1795 until 1999 (franc coins and notes were legal tender until 2002). The French franc was originally a gold coin issued in France from 1360 until 1380, then a silver coin issued between 15.
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