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 ...
. One franc is typically divided into 100
centimes. 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 ...
inscription ''francorum rex'' (
King of the Franks) 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,
Liechtenstein
Liechtenstein (), officially the Principality of Liechtenstein (german: link=no, Fürstentum Liechtenstein), is a German language, German-speaking microstate located in the Alps between Austria and Switzerland. Liechtenstein is a semi-constit ...
, and most of
Francophone Africa. The
Swiss franc 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 Internati ...
financial institutions.
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 regions and territories in the Americas and the Atlantic, Pacific and Indian Oceans. Its metropolitan ar ...
,
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 ...
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 land ...
, 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 str ...
and
Monaco
Monaco (; ), officially the Principality of Monaco (french: Principauté de Monaco; Ligurian: ; oc, Principat de Mónegue), is a sovereign
''Sovereign'' is a title which can be applied to the highest leader in various categories. The word ...
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 ...
as
legal tender (
Monégasque franc). 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
, religi ...
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 Thailan ...
. The franc is sometimes Italianised or Hispanicised as the ''franco'', for instance in
Luccan franco.
Origins
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 ...
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 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 ...
'' (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 ...
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 regions and territories in the Americas and the Atlantic, Pacific and Indian Oceans. Its metropolitan ar ...
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 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 (; ; 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 ...
. 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 ...
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 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 ...
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 land ...
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 ...
adopted the
lira on a similar basis in 1862.
In 1865, France, Belgium, Switzerland and Italy created the
Latin Monetary Union (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 ...
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, 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 (
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 and in
Liechtenstein
Liechtenstein (), officially the Principality of Liechtenstein (german: link=no, Fürstentum Liechtenstein), is a German language, German-speaking microstate located in the Alps between Austria and Switzerland. Liechtenstein is a semi-constit ...
. Liechtenstein retains the ability to mint its own currency, the
Liechtenstein franc, 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 ...
(''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, linked at par to the French franc, was introduced in the
Saar Protectorate in 1948. On 1 January 1957, the territory joined the
Federal Republic of Germany
Germany, officially the Federal Republic of Germany (FRG),, is a country in Central Europe. It is the most populous member state of the European Union. Germany lies between the Baltic and North Sea to the north and the Alps to the south ...
, 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 sta ...
of
Saarland, the Saar franc continued to be the currency until 6 July 1959.
The name of the Saar franc in
German, 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
*
Latin Monetary Union
* 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, suppo ...
.
*Special settlement currencies
**
UIC franc
**
Gold franc
*
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 ...
(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, de ...
*
New Hebrides franc
*
Westphalian frank
*
Reunion franc
References
External links
*
Swiss Franc Tracker - CHF
{{Authority control
Currencies of Europe
Denominations (currency)