The franc is any of various units of
currency
A currency, "in circulation", from la, currens, -entis, literally meaning "running" or "traversing" is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins.
A more general def ...
. One franc is typically divided into 100
centime
Centime (from la, centesimus) is French for " cent", and is used in English as the name of the fraction currency in several Francophone countries (including Switzerland, Algeria, Belgium, Morocco and France).
In France, the usage of ''centim ...
s. The name is said to derive from the
Latin
Latin (, or , ) is a classical language belonging to the Italic branch of the Indo-European languages. Latin was originally a dialect spoken in the lower Tiber area (then known as Latium) around present-day Rome, but through the power of the ...
inscription ''francorum rex'' (
King of the Franks
The Franks, Germanic-speaking peoples that invaded the Western Roman Empire in the 5th century, were first led by individuals called dukes and reguli. The earliest group of Franks that rose to prominence was the Salian Merovingians, who con ...
) used on early
French
French (french: français(e), link=no) may refer to:
* Something of, from, or related to France
** French language, which originated in France, and its various dialects and accents
** French people, a nation and ethnic group identified with Franc ...
coins and until the 18th century, or from the
French
French (french: français(e), link=no) may refer to:
* Something of, from, or related to France
** French language, which originated in France, and its various dialects and accents
** French people, a nation and ethnic group identified with Franc ...
''franc'', meaning "frank" (and "free" in certain contexts, such as ''coup franc'', "free kick").
The countries that use francs today include
Switzerland
). Swiss law does not designate a ''capital'' as such, but the federal parliament and government are installed in Bern, while other federal institutions, such as the federal courts, are in other cities (Bellinzona, Lausanne, Luzern, Neuchâtel ...
,
Liechtenstein
Liechtenstein (), officially the Principality of Liechtenstein (german: link=no, Fürstentum Liechtenstein), is a German-speaking microstate located in the Alps between Austria and Switzerland. Liechtenstein is a semi-constitutional monarchy ...
, and most of
Francophone Africa
African French (french: français africain) is the generic name of the varieties of the French language spoken by an estimated 141 million people in Africa in 2018, spread across 34 countries and territories.29 full members of the Organisa ...
. The
Swiss franc
The Swiss franc is the currency and legal tender of Switzerland and Liechtenstein. It is also legal tender in the Italian exclave of Campione d'Italia which is surrounded by Swiss territory. The Swiss National Bank (SNB) issues banknotes and the f ...
is a major world currency today due to the prominence of
Swiss
Swiss may refer to:
* the adjectival form of Switzerland
* Swiss people
Places
* Swiss, Missouri
* Swiss, North Carolina
*Swiss, West Virginia
* Swiss, Wisconsin
Other uses
*Swiss-system tournament, in various games and sports
*Swiss Internation ...
financial institutions
Financial institutions, sometimes called banking institutions, are business entities that provide services as intermediaries for different types of financial monetary transactions. Broadly speaking, there are three major types of financial insti ...
.
Before the introduction of the
euro
The euro ( symbol: €; code: EUR) is the official currency of 19 out of the member states of the European Union (EU). This group of states is known as the eurozone or, officially, the euro area, and includes about 340 million citizens . ...
in 1999, francs were also used in
France
France (), officially the French Republic ( ), is a country primarily located in Western Europe. It also comprises of Overseas France, overseas regions and territories in the Americas and the Atlantic Ocean, Atlantic, Pacific Ocean, Pac ...
,
Belgium
Belgium, ; french: Belgique ; german: Belgien officially the Kingdom of Belgium, is a country in Northwestern Europe. The country is bordered by the Netherlands to the north, Germany to the east, Luxembourg to the southeast, France to th ...
and
Luxembourg
Luxembourg ( ; lb, Lëtzebuerg ; french: link=no, Luxembourg; german: link=no, Luxemburg), officially the Grand Duchy of Luxembourg, ; french: link=no, Grand-Duché de Luxembourg ; german: link=no, Großherzogtum Luxemburg is a small lan ...
, while
Andorra
, image_flag = Flag of Andorra.svg
, image_coat = Coat of arms of Andorra.svg
, symbol_type = Coat of arms
, national_motto = la, Virtus Unita Fortior, label=none (Latin)"United virtue is stro ...
and
Monaco
Monaco (; ), officially the Principality of Monaco (french: Principauté de Monaco; Ligurian: ; oc, Principat de Mónegue), is a sovereign city-state and microstate on the French Riviera a few kilometres west of the Italian region of Lig ...
accepted the
French franc
The franc (, ; sign: F or Fr), also commonly distinguished as the (FF), was a currency of France. Between 1360 and 1641, it was the name of coins worth 1 livre tournois and it remained in common parlance as a term for this amount of money. It w ...
as
legal tender
Legal tender is a form of money that courts of law are required to recognize as satisfactory payment for any monetary debt. Each jurisdiction determines what is legal tender, but essentially it is anything which when offered ("tendered") in pa ...
(
Monégasque franc
The franc (unofficially MCF) was the official currency of the Principality of Monaco until 1995 (''de facto'', 1996 ''de jure''), when it changed to the French franc. The franc was subdivided into 100 ''centimes'' or 10 ''décimes''. The Monéga ...
). The franc was also used within the
French Empire
French Empire (french: Empire Français, link=no) may refer to:
* First French Empire, ruled by Napoleon I from 1804 to 1814 and in 1815 and by Napoleon II in 1815, the French state from 1804 to 1814 and in 1815
* Second French Empire, led by Nap ...
's colonies, including
Algeria
)
, image_map = Algeria (centered orthographic projection).svg
, map_caption =
, image_map2 =
, capital = Algiers
, coordinates =
, largest_city = capital
, relig ...
and
Cambodia
Cambodia (; also Kampuchea ; km, កម្ពុជា, UNGEGN: ), officially the Kingdom of Cambodia, is a country located in the southern portion of the Indochinese Peninsula in Southeast Asia, spanning an area of , bordered by Thailand t ...
. The franc is sometimes Italianised or Hispanicised as the ''franco'', for instance in
Luccan franco
The franc was the currency of Lucca, issued between 1805 and 1808. It was equivalent to the French franc, alongside which it circulated, and was subdivided into 100 ''centesimi''. In 1808, the French franc replaced local coins at par.
''See also ...
.
Origins
![Franc a cheval de Jean le Bon 5 decembre 1360 or 3730mg](https://upload.wikimedia.org/wikipedia/commons/f/f7/Franc_a_cheval_de_Jean_le_Bon_5_decembre_1360_or_3730mg.jpg)
The franc was originally a French
gold
Gold is a chemical element with the symbol Au (from la, aurum) and atomic number 79. This makes it one of the higher atomic number elements that occur naturally. It is a bright, slightly orange-yellow, dense, soft, malleable, and ductile met ...
coin of 3.87 g minted in 1360 on the occasion of the release of King
John II ("the Good"), held by the English since his capture at the
Battle of Poitiers
The Battle of Poitiers was fought on 19September 1356 between a French army commanded by King JohnII and an Anglo- Gascon force under Edward, the Black Prince, during the Hundred Years' War. It took place in western France, south of Poi ...
four years earlier. It was equivalent to one ''
livre tournois
The (; ; abbreviation: ₶.) was one of numerous currencies used in medieval France, and a unit of account (i.e., a monetary unit used in accounting) used in Early Modern France.
The 1262 monetary reform established the as 20 , or 80.88 gr ...
'' (Tours pound).
French franc
The
French franc
The franc (, ; sign: F or Fr), also commonly distinguished as the (FF), was a currency of France. Between 1360 and 1641, it was the name of coins worth 1 livre tournois and it remained in common parlance as a term for this amount of money. It w ...
was originally a gold coin issued in
France
France (), officially the French Republic ( ), is a country primarily located in Western Europe. It also comprises of Overseas France, overseas regions and territories in the Americas and the Atlantic Ocean, Atlantic, Pacific Ocean, Pac ...
from 1360 until 1380, then a silver coin issued between 1575 and 1641. The franc finally became the national currency from 1795 until 1999 (franc coins and notes were legal tender until 2002). Though abolished as a legal coin by King
Louis XIII
Louis XIII (; sometimes called the Just; 27 September 1601 – 14 May 1643) was King of France from 1610 until his death in 1643 and King of Navarre (as Louis II) from 1610 to 1620, when the crown of Navarre was merged with the French crown ...
in 1641 in favor of the gold
louis Louis may refer to:
* Louis (coin)
* Louis (given name), origin and several individuals with this name
* Louis (surname)
* Louis (singer), Serbian singer
* HMS ''Louis'', two ships of the Royal Navy
See also
Derived or associated terms
* Lewis (d ...
and silver
écu
The term ''écu'' () or crown may refer to one of several French coins. The first ''écu'' was a gold coin (the ''écu d'or'') minted during the reign of Louis IX of France, in 1266. ''Écu'' (from Latin ''scutum'') means shield, and the coin ...
, the term franc continued to be used in common parlance for the
livre tournois
The (; ; abbreviation: ₶.) was one of numerous currencies used in medieval France, and a unit of account (i.e., a monetary unit used in accounting) used in Early Modern France.
The 1262 monetary reform established the as 20 , or 80.88 gr ...
. The franc was also minted for many of the former French colonies, such as Morocco, Algeria, French West Africa, and others. Today, after independence, many of these countries continue to use the franc as their standard denomination.
The value of the French franc was locked to the
euro
The euro ( symbol: €; code: EUR) is the official currency of 19 out of the member states of the European Union (EU). This group of states is known as the eurozone or, officially, the euro area, and includes about 340 million citizens . ...
at 1 euro = 6.55957 FRF on 31 December 1998, and after the
introduction of the euro
Introduction, The Introduction, Intro, or The Intro may refer to:
General use
* Introduction (music), an opening section of a piece of music
* Introduction (writing), a beginning section to a book, article or essay which states its purpose and g ...
notes and coins, ceased to be legal tender after 28 February 2002, although they were still exchangeable at banks until 19 February 2012.
CFA and CFP francs
Fourteen African countries use the
franc CFA
The CFA franc (french: franc CFA, , Franc of the Financial Community of Africa, originally Franc of the French Colonies in Africa, or colloquially ; abbreviation: F.CFA) is the name of two currencies, the West African CFA franc, used in eight Wes ...
(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. Therefore, from January 1999, 1 CFA franc is equivalent to €0.00152449. On 22 December 2019, it was announced that the CFA franc would be replaced in 2020 by an independent currency to be called
Eco.
A separate (
franc CFP) circulates in
France's Pacific territories, worth €0.0084 (formerly 0.055 French franc).
Comorian franc
In 1981, The
Comoros
The Comoros,, ' officially the Union of the Comoros,; ar, الاتحاد القمري ' is an independent country made up of three islands in southeastern Africa, located at the northern end of the Mozambique Channel in the Indian Ocean. It ...
established an arrangement with the French government similar to that of the CFA franc. Originally, 50
Comorian franc
The franc (french: link=no, franc comorien; ar, فرنك قمري; sign: FC; ISO 4217 code: KMF) is the official currency of Comoros. It is nominally subdivided into 100 ''centimes'', although no centime denominations have ever been issued.
His ...
s were worth 1 French franc. In January 1994, the rate was changed to 75 Comorian francs to the French franc. Since 1999, the currency has been pegged to the euro.
Belgian franc and Luxembourgish franc
The conquest of most of western Europe by Revolutionary and Napoleonic France led to the franc's wide circulation. Following independence from the Kingdom of the Netherlands, the new Kingdom of
Belgium
Belgium, ; french: Belgique ; german: Belgien officially the Kingdom of Belgium, is a country in Northwestern Europe. The country is bordered by the Netherlands to the north, Germany to the east, Luxembourg to the southeast, France to th ...
in 1832 adopted its own Belgian franc, equivalent to the French one, followed by
Luxembourg
Luxembourg ( ; lb, Lëtzebuerg ; french: link=no, Luxembourg; german: link=no, Luxemburg), officially the Grand Duchy of Luxembourg, ; french: link=no, Grand-Duché de Luxembourg ; german: link=no, Großherzogtum Luxemburg is a small lan ...
adopting the Luxembourgish franc in 1848 and Switzerland in 1850. Newly unified
Italy
Italy ( it, Italia ), officially the Italian Republic, ) or the Republic of Italy, is a country in Southern Europe. It is located in the middle of the Mediterranean Sea, and its territory largely coincides with the homonymous geographical re ...
adopted the
lira
Lira is the name of several currency units. It is the current currency of Turkey and also the local name of the currencies of Lebanon and of Syria. It is also the name of several former currencies, including those of Italy, Malta and Israe ...
on a similar basis in 1862.
In 1865, France, Belgium, Switzerland and Italy created the
Latin Monetary Union
The Latin Monetary Union (LMU) was a 19th-century system that unified several European currencies into a single currency that could be used in all member states when most national currencies were still made out of gold and silver. It was establish ...
(to be joined by Spain and Greece in 1868): each would possess a national currency unit (franc, lira, peseta, drachma) worth 4.5 g of silver or of gold (fine), all freely exchangeable at a rate of 1:1. In the 1870s the gold value was made the fixed standard, a situation which was to continue until 1914.
In 1926
Belgium
Belgium, ; french: Belgique ; german: Belgien officially the Kingdom of Belgium, is a country in Northwestern Europe. The country is bordered by the Netherlands to the north, Germany to the east, Luxembourg to the southeast, France to th ...
as well as France experienced depreciation and an abrupt collapse of confidence, leading to the introduction of a new gold currency for international transactions, the ''belga'' of 5 francs, and the country's withdrawal from the monetary union, which ceased to exist at the end of the year. The 1921 monetary union of Belgium and Luxembourg survived, however, forming the basis for full economic union in 1932.
Like the French franc, the Belgo-Luxemburgish franc ceased to exist on 1 January 1999, when it became fixed at 1 EUR = 40.3399 BEF/LUF, thus a franc was worth €0.024789. Old franc coins and notes lost their legal tender status on 28 February 2002.
1 Luxembourgish franc was equal to 1 Belgian franc. Belgian francs were legal tender inside Luxembourg, and Luxembourgish francs were legal tender in the whole of Belgium. (In reality, Luxembourgish francs were only accepted as means of payment by shops and businesses in the Belgian province of Luxembourg adjacent to the independent Grand Duchy of Luxembourg, this for historical reasons.)
The equivalent name of the Belgian franc in
Dutch
Dutch commonly refers to:
* Something of, from, or related to the Netherlands
* Dutch people ()
* Dutch language ()
Dutch may also refer to:
Places
* Dutch, West Virginia, a community in the United States
* Pennsylvania Dutch Country
People E ...
, Belgium's other official language, was ''Belgische Frank''. As mentioned before, in Luxembourg the franc was called ''Frang'' (plural ''Frangen'').
Swiss franc and Liechtenstein franc
The
Swiss franc
The Swiss franc is the currency and legal tender of Switzerland and Liechtenstein. It is also legal tender in the Italian exclave of Campione d'Italia which is surrounded by Swiss territory. The Swiss National Bank (SNB) issues banknotes and the f ...
(
ISO code: CHF or 756), which appreciated significantly against the new European currency from April to September 2000, remains one of the world's strongest currencies, worth today around five-sixths of a euro. The Swiss franc is used in
Switzerland
). Swiss law does not designate a ''capital'' as such, but the federal parliament and government are installed in Bern, while other federal institutions, such as the federal courts, are in other cities (Bellinzona, Lausanne, Luzern, Neuchâtel ...
and in
Liechtenstein
Liechtenstein (), officially the Principality of Liechtenstein (german: link=no, Fürstentum Liechtenstein), is a German-speaking microstate located in the Alps between Austria and Switzerland. Liechtenstein is a semi-constitutional monarchy ...
. Liechtenstein retains the ability to mint its own currency, the
Liechtenstein franc
The Swiss franc (plural: francs; in German: ''Frank'', plural: ''Franken'') has been the currency of Liechtenstein since 1920. The Swiss franc is legal tender since Liechtenstein is in a customs and monetary union with Switzerland. The 1980 tre ...
, which it does from time to time for commemorative or emergency purposes.
The name of the country "Swiss Confederation" is found on some of the coins in
Latin
Latin (, or , ) is a classical language belonging to the Italic branch of the Indo-European languages. Latin was originally a dialect spoken in the lower Tiber area (then known as Latium) around present-day Rome, but through the power of the ...
(''Confoederatio Helvetica''), as Switzerland has four official languages, all of which are used on the notes. The denomination is abbreviated "Fr." on the coins which is the abbreviation in all four languages.
Saar franc
The
Saar franc
The Saar franc was the French franc (german: Franken) used as the official currency of the Saar during the times that the Saar territory was economically split off from Germany, in 1920–1935 as the Territory of the Saar Basin, in 1947–1957 as t ...
, linked at par to the French franc, was introduced in the
Saar Protectorate
The Saar Protectorate (german: Saarprotektorat ; french: Protectorat de la Sarre) officially Saarland (french: Sarre) was a French protectorate separated from Germany; which was later opposed by the Soviet Union, one side occupying Germany like ...
in 1948. On 1 January 1957, the territory joined the
Federal Republic of Germany
Germany,, officially the Federal Republic of Germany, is a country in Central Europe. It is the second most populous country in Europe after Russia, and the most populous member state of the European Union. Germany is situated between ...
, nevertheless, in its new
member state
A member state is a state that is a member of an international organization or of a federation or confederation.
Since the World Trade Organization (WTO) and the International Monetary Fund (IMF) include some members that are not sovereign states ...
of
Saarland
The Saarland (, ; french: Sarre ) is a state of Germany in the south west of the country. With an area of and population of 990,509 in 2018, it is the smallest German state in area apart from the city-states of Berlin, Bremen, and Hamburg, and ...
, the Saar franc continued to be the currency until 6 July 1959.
The name of the Saar franc in
German
German(s) may refer to:
* Germany (of or related to)
**Germania (historical use)
* Germans, citizens of Germany, people of German ancestry, or native speakers of the German language
** For citizens of Germany, see also German nationality law
**Ger ...
, the main official language in the Protectorate, was ''Franken''. Coins displaying German inscriptions and the coat of arms of the Protectorate were circulated and used together with French francs. As banknotes, only French franc bills existed.
Countries that use a franc
Countries currently using a franc
Current
=Collectivities franc
=
Defunct
See also
*
Cape Verdean escudo
The escudo (sign: ; ISO 4217: CVE) is the currency of the Republic of Cape Verde. One escudo is subdivided into one hundred ''centavos''.
Amounts are generally written by using the () as the decimal separator, such as for 20 escudos, or for ...
*
Latin Monetary Union
The Latin Monetary Union (LMU) was a 19th-century system that unified several European currencies into a single currency that could be used in all member states when most national currencies were still made out of gold and silver. It was establish ...
* The Latverian franc is the currency of the fictional country of
Latveria
Latveria is a fictional country appearing in American comic books published by Marvel Comics. It is depicted within the storylines of Marvel's comic titles as an isolated European country ruled by the fictional Supreme Lord Doctor Doom, suppose ...
.
*Special settlement currencies
**
UIC franc
**
Gold franc
The gold franc (currency code: XFO) was the unit of account for the Bank for International Settlements from 1930 until April 1, 2003. It was replaced with the special drawing right. It was originally based on the Franc Germinal, and remained a ...
*
Livre tournois
The (; ; abbreviation: ₶.) was one of numerous currencies used in medieval France, and a unit of account (i.e., a monetary unit used in accounting) used in Early Modern France.
The 1262 monetary reform established the as 20 , or 80.88 gr ...
(French pound)
*
Roman currency
Roman currency for most of Roman history consisted of gold, silver, bronze, orichalcum and copper coinage. From its introduction to the Republic, during the third century BC, well into Imperial times, Roman currency saw many changes in form, denomi ...
*
New Hebrides franc
The franc was the currency of the Anglo-French Condominium of the Pacific island group of the New Hebrides (which became Vanuatu in 1980). It circulated alongside British and later Australian currency. The New Hebrides franc was nominally divided ...
*
Westphalian frank
The Westphalian frank was a currency of the Kingdom of Westphalia between 1808 and 1813. It circulated alongside the Thaler, was equal to the French franc, and was subdivided into 100 ''Centimen''.
The currency was dissolved upon being recapture ...
*
Reunion franc
Reunion may refer to:
* Class reunion
* Family reunion
Reunion, Réunion, Re-union, Reunions or The Reunion may also refer to:
Places
* Réunion, a French overseas department and island in the Indian Ocean
* Reunion, Commerce City, Colorado, US ...
References
External links
*
Swiss Franc Tracker - CHF
{{Authority control
Currencies of Europe
Denominations (currency)