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The franc was the currency of France.
It was introduced by king John II of France in 1360.
Though abolished as a legal coin by Louis XIII in 1641
in favor of the gold louis or écu, the term franc
continued to be used in common parlance for the livre
tournois. It was re-introduced in 1795, and remained
the national currency until the introduction of the
euro in 2002.
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The new franc
In January 1960 the French franc was revalued at 100 existing
francs. Old franc pieces continued to circulate as centimes
(none of which were minted for the first two years), 100 of
them making a nouveau franc (the abbreviation NF was used
for some time). Inflation continued to erode the currency's
value but at a greatly reduced rate comparable to other countries,
so when the euro replaced the franc in January 1, 1999, the
new franc was worth less than an eighth of its original value.
Many French people continued using old francs, anciens francs
as a unit; large sums such as lottery prizes were often given
in centimes, since these are equivalent to the old franc.
This usage continued right up to when franc notes and coins
were withdrawn in 2002.
European Monetary Union
From January 1, 1999, the value exchange rate of the French
franc against the euro was set at a fix parity of 1 EUR=6.55957
FRF. Euro coins and notes replaced it entirely between January
1 and February 17, 2002.
At the time of changeover, the coins in circulation were
- 5 centimes (.762 Eurocent)
- 10 centimes (1.52 Eurocent)
- 20 centimes (3.05 Eurocent)
- 50 centimes (7.62 Eurocent)
- 1 Franc (15.24 Eurocent)
- 2 Francs (30.49 Eurocent)
- 5 Francs (76.22 Eurocent)
- 10 Francs (€1.52)
- 20 Francs (€3.05)
Coins were exchangeable until February 17, 2005
Banknotes
- 20 Francs (€3.05)
- 50 Francs (€7.62) : Antoine de Saint-Exupéry
- 100 Francs (€15.24) : Paul Cézanne
- 200 Francs (€30.49) : Gustave Eiffel
- 500 Francs (€76.22) : Pierre and Marie Curie
- Banknotes may be exchanged from the french central
Bank or services like GFC until February 17, 2012
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