| franc pacifique (French) | |
|---|---|
 F 10,000 banknote from the 2014 series | |
| ISO 4217 | |
| Code | XPF (numeric: 953) |
| Unit | |
| Symbol | F |
| Denominations | |
| Subunit | |
| 1⁄100 | centime |
| Banknotes | F 500, F 1,000, F 5,000, F 10,000 |
| Coins | F 5, F 10, F 20, F 50, F 100, F 200[1] |
| Demographics | |
| User(s) | |
| Issuance | |
| Central bank | Institut d'émission d'Outre-Mer (IEOM) |
| Website | www |
| Valuation | |
| Inflation | 0% (French Polynesia 2015 est.), 1.9% (New Caledonia 2017 est.) |
| Source | The World Factbook |
| Pegged with | F 1,000 =€8.38 |
TheCFP franc (French:Franc pacifique, called thefranc in everyday use) is thecurrency used in theFrenchoverseas collectivities (French:collectivités d'outre-mer, or COM) ofFrench Polynesia,New Caledonia, andWallis and Futuna. The initialsCFP originally stood forcolonies françaises du Pacifique (lit. 'French colonies of the Pacific') but since 2022 is officiallyCollectivités françaises du Pacifique (lit. 'French Communities of the Pacific'). ItsISO 4217 currency code isXPF. The CFP franc is subdivided into 100 centimes, although there are no centime denominations. The currency is issued byInstitut d'émission d'outre-mer (IEOM).
The CFP franc was created in December 1945, together with theCFA franc, used in Africa, because of the weakness of theFrench franc immediately after theSecond World War. When France ratified theBretton Woods Agreement in December 1945, the French franc was devalued in order to set a fixed exchange rate with theUS dollar. New currencies were created in the French colonies to spare them the strong devaluation of December 1945.René Pleven, the French minister of finance, was quoted saying: "In a show of her generosity and selflessness,metropolitan France, wishing not to impose on her far-away daughters the consequences of her own poverty, is setting different exchange rates for their currency."[2] The other French colonial currencies were set at a fixed exchange rate with the French franc. However, the CFP franc was set at a fixed exchange rate with the US dollar, which played a major role in the economy of the French Pacific territories on account ofWorld War II. That situation ended in September 1949 when the CFP franc was given a fixed exchange rate with the French franc.
The CFP franc has been issued by theInstitut d'émission d'outre-mer (IEOM,lit. 'Overseas Issuing Institute') since 1967. The IEOM has its headquarters inParis.
The currency was initially issued in three distinct forms forFrench Polynesia,New Caledonia and theNew Hebrides (seeFrench Polynesian franc,New Caledonian franc andNew Hebrides franc).Wallis and Futuna used the New Caledonian franc.
Banknotes were first issued in 500, 1,000 and 5,000 franc denominations. Although the banknotes of the New Hebrides bore the name of the territory, the notes of French Polynesia and New Caledonia could only be distinguished by the name of the capital cities (Papeete andNouméa, respectively) printed on the reverse side of the notes.
In 1969, the New Hebrides franc was separated from the CFP franc, and was replaced by theVatu in 1982 after the establishment in 1980 of theRepublic of Vanuatu.
The largest denomination 10,000 CFP franc banknote (€83.80) was first issued in 1986, and omitted the capital city name. The city was also omitted from 500 franc banknotes issued after 1992, and the 1,000 and 5,000 franc banknotes issued after 1995.
In 2014, a single set of new banknote designs and smaller sizes were introduced, identical in both New Caledonia and French Polynesia. One side of the banknotes shows landscapes or historical figures from French Polynesia, the other from New Caledonia.
Before 2023, the coins were issued in two sets, one each for New Caledonia and French Polynesia, in 1, 2, 5, 10, 20, 50, and 100 franc denominations. While theobverse side was identical, thereverse side was inscribed with eitherNouvelle-Calédonie orPolynésie française, and used different designs depicting local landscapes, flora and fauna. However, both sets of coins could be used interchangeably in all three French territories.
The initialsCFP originally stood forColonies françaises du Pacifique (lit. 'French colonies of the Pacific'). This was later changed toCommunauté financière du Pacifique (lit. 'Pacific Financial Community'), and thenChange franc Pacifique (lit. 'Pacific Franc Exchange'), from which the XPF currency code was derived. An ordinance of 15 September 2021, which entered into force on 26 February 2022, defines the name CFP franc asle franc des collectivités françaises du Pacifique (lit. 'the franc of the French Communities of the Pacific').[3]
In 2021, a new series of smaller coins were introduced, with a single set of designs common to all three territories. The 1 and 2 franc coins were discontinued and a new, bimetallic 200 franc coin introduced. The old coins were withdrawn in January 2023.
The 1960 and 1999 events are merely changes in the currency in use in France; the relative value of the CFP franc (XPF) vs. the French franc / euro is unchanged since 1949.
In 1949, New Caledonia and French Polynesia (then called French Oceania) began to issue coins with identical obverse sides, but distinct reverse side designs. They could be used interchangeably in all three French territories, in a similar way to the use ofeuro coins (with distinct national obverse sides) in all countries of theeurozone.
Until 2021, the IEOM issued two sets of CFP coins in denominations of 1, 2, 5, 10, 20, 50, and 100 francs. TheNew Caledonian series is marked with "Nouvelle Caledonie" on the reverse side and was circulated mainly in New Caledonia and Wallis and Futuna. TheFrench Polynesian series is marked "Polynesie Française" and circulated in French Polynesia. The reverse designs depicted landscapes, plants, or animals typical of the region, as well as the coin denomination.
The obverse side, common to both regions, included the wordsRepublique Française (lit. 'French Republic') and depicted an allegorical representation ofMinerva the goddess of wisdom on the 1, 2, and 5 franc coins, orMarianne, symbol of the French Republic, on the higher denominations. The obverse also included the mint year and the initials of the issuing central bank (IEOM) from 1972.
The 1, 2, and 5 franc coins were made fromaluminium alloy, the 10, 20, and 50 franc coins fromnickel (cupronickel after 2005), and the "gold" 100 franc coin fromnickel bronze (copper nickel aluminium alloy after 2005).
In September 2021 a new single set of coins was released, common to all three French Pacific Territories, to replace the two older sets of coins. The 1 and 2 franc coins were discontinued, and a new bimetallic 200 franc coin was issued. The old coins were withdrawn from circulation in January 2023. Since the lowest denomination in use is now the 5 franc coin, cash transactions are now subject to rounding:
The rounding rule does not apply to electronic transactions, which are still completed to the franc.[1]
The obverses of all the coins features a single wavy-line design, with the IEOM issuer and year engraved around the edge, and the denomination value. Each coin denomination has a single reverse design depicting landscapes, artefacts, flora and fauna from all three territories.
| Coins of New Caledonia, Wallis & Futuna, and French Polynesia (2021–) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Image | Value | Technical parameters | Description | Common name | ||||||
| Obverse | Reverse | Diameter | Thickness | Mass | Composition | Edge | Obverse | Reverse | ||
 | %2c_obverse.png) | F 5 | 21 mm | 1.9 mm | 4.8 g | stainless steel | Plain | wavy-line design | tiare andfrangipani flowers,Cook pines,taro leaves | F 5 |
%2c_reverse.png) | %2c_obverse.png) | F 10 | 23 mm | 1.7 mm | 5.6 g | cupronickel | Milled | wavy-line design | Sail canoe,white terns,rays,oysters | F 10 |
 | %2c_obverse.png) | F 20 | 26 mm | 1.7 mm | 7.1 g | Napoleon fish,angelfish, turtles, reef fish | F 20 | |||
%2c_reverse.png) | %2c_obverse.png) | F 50 | 24 mm | 2.0 mm | 6.6 g | cupronickel-aluminium | Plain | wavy-line design | Kagu,horned parakeets,breadfruit,ferns,niaouli | F 50 |
%2c_reverse.png) | %2c_obverse.png) | F 100 | 27 mm | 2.0 mm | 8.3 g | Milled | TraditionalFaré [fr] hut, Polynesian items | F 100 | ||
%2c_reverse.png) | %2c_obverse.png) | F 200 | 25 mm | 2.3 mm | 8.5 g | Bimetallic: cupronickel ring, cupronickel-aluminium centre | Milled | wavy-line design | Tiki,log drum,ukulele,Wallistapa cloth | F 200 |
| These images are to scale at 2.5 pixels per millimetre. For table standards, see thecoin specification table.Source: Numista.[4] SeeNew Caledonian franc andFrench Polynesian franc for previous coin series. | ||||||||||
The IEOM began issuing banknotes in New Hebrides in 1965, and in New Caledonia and French Polynesia in 1969, in 500, 1,000, and 5,000 franc denominations. In 1986 the 10,000 franc banknote was introduced, which was common to both French Polynesia and New Caledonia.[5] These were followed, between 1992 and 1995, by new 500, 1,000, and 5,000 franc banknote designs common to all of the French Pacific Territories. One side of the banknote shows landscapes or historical figures from New Caledonia, the other from French Polynesia.
In January 2014, the IEOM issued a new series of banknotes, and the older notes were withdrawn from circulation on 30 September of that year (they can be exchanged indefinitely at IEOM offices).[6][7][8]
| Image | Value | Dimensions (millimetres) | Main colour | Design | ||||
|---|---|---|---|---|---|---|---|---|
| Obverse | Reverse | Obverse | Reverse | |||||
 |  | F 500 | 120 × 66 mm | Green | Frangipani,tiare | Kava,bird of paradise | ||
 |  | F 1,000 | 126 × 66 mm | Orange | Horned parakeet,kagu | stingray,sea turtle | ||
 |  | F 5,000 | 132 × 73 mm | Blue | Nautilus,pennant coralfish, volute andmurex shells | Napoleonfish, coral, oyster withpearl | ||
 | | F 10,000 | 138 × 73 mm | Red | Jean-Marie Tjibaou Cultural Centre, Kanak hut | Crossed oars,faré [fr], palm trees | ||
| These images are to scale at 0.7 pixel per millimetre. For table standards, see thebanknote specification table.Source: Numizon.[9] | ||||||||
Before the French regulated the currency onTahiti, French Polynesia, traders often used dollars. The worddollar becametārā (often written without accents astara, ortala), and this term is still used among native Tahitian and local Chinese traders as an unofficial unit, worth 5 francs. Thus for a price of 200 francs, one would saytārā e maha-ʻahuru (40 tārā) inTahitian. The currency ofSamoa is also called thetālā.
| Current XPF exchange rates | |
|---|---|
| FromGoogle Finance: | AUDCADCHFCNYEURGBPHKDJPYUSDNZDEURJPY |
| FromYahoo! Finance: | AUDCADCHFCNYEURGBPHKDJPYUSDNZDEURJPY |
| FromXE.com: | AUDCADCHFCNYEURGBPHKDJPYUSDNZDEURJPY |
| From OANDA: | AUDCADCHFCNYEURGBPHKDJPYUSDNZDEURJPY |
Media related toFranc pacifique at Wikimedia Commons
