# CFP Franc

> currency used in the French overseas collectivities of French Polynesia, New Caledonia, and Wallis and Futuna

**Wikidata**: [Q214393](https://www.wikidata.org/wiki/Q214393)  
**Wikipedia**: [English](https://en.wikipedia.org/wiki/CFP_franc)  
**Source**: https://4ort.xyz/entity/cfp-franc

## Summary
The **CFP Franc** is a currency used in the French overseas collectivities of **French Polynesia, New Caledonia, and Wallis and Futuna**. It is issued by the **Institut d'émission d'outre-mer** and is pegged to the euro at a fixed exchange rate of **0.00838 euros**. The CFP Franc facilitates economic transactions in these Pacific territories and is distinct from the euro used in metropolitan France.

## Key Facts
- **Name**: CFP Franc (also known as **Pacific Franc, Franc Pacifique, XPF**).
- **ISO 4217 Code**: **XPF**.
- **Issuer**: **Institut d'émission d'outre-mer** (central bank for French overseas territories).
- **Exchange Rate**: Fixed at **0.00838 euros** (since 1999).
- **Jurisdictions**: Used in **French Polynesia, New Caledonia, and Wallis and Futuna**; previously used in **New Hebrides** (until 1982).
- **Symbol**: **₣** (unit symbol).
- **Subdivisions**: Includes **French Polynesian franc** and **New Caledonian franc**.
- **Historical Exchange Rates**:
  - **2.4 French francs** (1945–1948).
  - **5.5 French francs** (1948–1958).
  - **0.055 French francs** (1959–1998).
- **Wikidata Description**: "Currency used in the French overseas collectivities of French Polynesia, New Caledonia, and Wallis and Futuna."
- **Aliases**: Pacific Franc, Franc Pacifique, XPF, Franc CFP, Francs Pacifique, Pazifik-Franc, Валюта Уоллис и Футуна, Франк КФП, Обменный тихоокеанский франк, Французское тихоокеанское банковское соглашение, Франк КПФ, франк, فرنك س ف ب.
- **Wikipedia Coverage**: Available in **47 languages**, including English, French, German, Spanish, and Russian.
- **Related Currencies**: Part of the broader **franc** currency family.
- **Digital Representation**: **Wolfram Language unit code**: "PacificFrancs".

## FAQs
**What is the CFP Franc?**
The CFP Franc is a currency used in French overseas territories in the Pacific, including French Polynesia, New Caledonia, and Wallis and Futuna. It is issued by the Institut d'émission d'outre-mer and is pegged to the euro.

**Where is the CFP Franc used?**
The CFP Franc is the official currency of **French Polynesia, New Caledonia, and Wallis and Futuna**. It was previously used in the New Hebrides (now Vanuatu) until 1982.

**What is the exchange rate of the CFP Franc?**
The CFP Franc is pegged to the euro at a fixed rate of **0.00838 euros** (since 1999). Historically, it was linked to the French franc at varying rates.

**Who issues the CFP Franc?**
The **Institut d'émission d'outre-mer** (IEOM) is the central bank responsible for issuing the CFP Franc.

**What are the subdivisions of the CFP Franc?**
The CFP Franc includes two main subdivisions: the **French Polynesian franc** and the **New Caledonian franc**, each used in their respective territories.

**What is the ISO code for the CFP Franc?**
The ISO 4217 code for the CFP Franc is **XPF**.

**How has the CFP Franc's value changed over time?**
The CFP Franc has been pegged to different currencies over time:
- **2.4 French francs** (1945–1948).
- **5.5 French francs** (1948–1958).
- **0.055 French francs** (1959–1998).
- **0.00838 euros** (since 1999).

## Why It Matters
The CFP Franc plays a crucial role in the economic stability of France's Pacific territories. By providing a stable and locally managed currency, it supports trade, tourism, and financial transactions in regions that are geographically remote from metropolitan France. Its fixed exchange rate with the euro ensures economic predictability, which is vital for businesses and residents in these territories. Additionally, the CFP Franc reflects France's ongoing commitment to its overseas collectivities, balancing local autonomy with integration into the broader French economic system.

## Notable For
- **Fixed Exchange Rate**: Pegged to the euro at **0.00838**, ensuring stability.
- **Pacific Usage**: Official currency in **French Polynesia, New Caledonia, and Wallis and Futuna**.
- **Historical Continuity**: Used since 1945, with adjustments to its exchange rate over time.
- **Central Bank Issuer**: Managed by the **Institut d'émission d'outre-mer**.
- **Subdivisions**: Includes **French Polynesian franc** and **New Caledonian franc**.
- **Multilingual Recognition**: Documented in **47 languages** on Wikipedia.
- **Unique Symbol**: Represented by the **₣** symbol.

## Body

### Overview and Definition
The **CFP Franc** is a currency used in France's overseas collectivities in the Pacific Ocean. It is classified as a **franc** and serves as the official medium of exchange in **French Polynesia, New Caledonia, and Wallis and Futuna**. The currency is issued by the **Institut d'émission d'outre-mer (IEOM)**, which oversees monetary policy in these territories.

### Historical Context
The CFP Franc was introduced in **1945** as part of France's post-World War II monetary reforms. Initially, it was pegged to the **French franc** at a rate of **2.4 French francs**. This rate was adjusted to **5.5 French francs** in 1948 and later to **0.055 French francs** in 1959. Following the introduction of the euro in 1999, the CFP Franc was pegged to the euro at a fixed rate of **0.00838 euros**.

### Jurisdictions and Usage
The CFP Franc is used in the following territories:
- **French Polynesia**: An overseas collectivity known for its tourism and pearl farming industries.
- **New Caledonia**: A special collectivity with significant nickel mining resources.
- **Wallis and Futuna**: An overseas collectivity with a smaller economy reliant on agriculture and fishing.

The currency was also used in the **New Hebrides** (now Vanuatu) until 1982, when it was replaced by the Vanuatu vatu.

### Exchange Rates and Economic Stability
The CFP Franc's fixed exchange rate with the euro provides economic stability for the territories where it is used. This peg ensures that the currency remains stable against fluctuations in global markets, which is particularly important for small island economies that rely on imports and tourism.

### Subdivisions and Variants
The CFP Franc includes two main subdivisions:
- **French Polynesian franc**: Used exclusively in French Polynesia.
- **New Caledonian franc**: Used exclusively in New Caledonia.

These variants are part of the broader CFP Franc system but are tailored to the specific economic needs of each territory.

### Issuer and Central Bank
The **Institut d'émission d'outre-mer (IEOM)** is responsible for issuing the CFP Franc. The IEOM is a public institution that operates under the supervision of the French Ministry of Finance. It ensures the stability and availability of the currency in the territories it serves.

### Symbol and Representation
The CFP Franc is represented by the symbol **₣**, which is used in financial transactions and documentation. The currency is also recognized by its **ISO 4217 code, XPF**, which is used in international banking and financial systems.

### Digital and Academic Recognition
The CFP Franc is documented in various digital and academic resources:
- **Wolfram Language unit code**: "PacificFrancs".
- **Wikipedia**: Available in **47 languages**, including English, French, German, and Spanish.
- **Wikidata**: Classified as a **currency** and **franc**, with extensive metadata and references.

### Related Currencies and Comparisons
The CFP Franc is part of the broader **franc** currency family, which includes other franc-based currencies used in former French colonies and territories. Unlike the euro, which is used in metropolitan France, the CFP Franc is tailored to the economic conditions of France's Pacific territories.

### Cultural and Economic Impact
The CFP Franc supports the economic activities of the territories where it is used, including tourism, fishing, and mining. Its stability and local issuance help maintain economic independence while ensuring integration with France's broader financial system.

### Future Prospects
As France's overseas territories continue to develop, the CFP Franc will remain a key component of their economic infrastructure. Its fixed exchange rate with the euro ensures continued stability, while its local management allows for flexibility in addressing the unique needs of each territory.

## References

1. Freebase Data Dumps. 2013