Pacific overseas territories of France– a number of archipelagos and island groups in the southern part Pacific Ocean. They include New Caledonia island with adjacent islands and reefs, Wallis and Futuna Islands And French polynesia.
New Caledonia Island with a group of small adjacent islands and reefs (in official sources it sounds like an overseas special administrative-territorial entity of France New Caledonia) is located in the southwestern part of the Pacific Ocean, called Malanesia.
The island of New Caledonia does not have land borders with any of the states or territorial entities of the region, which in itself is quite natural, but it has quite a lot of sea borders according to the division of maritime economic zones. Thus, in the southwest it has borders with an economic zone, which is created and defined by the remote islands that belong to it, territorial waters adjoin to the north, and Fiji to the southeast.
The territory of New Caledonia is hilly and mountainous, which indicates the volcanic origin of the island. The coast is heavily indented by coral reefs, part of a fairly extended reef ridge. The area of New Caledonia exceeds 18 thousand square kilometers.
The population of New Caledonia and the adjacent Loyalty Islands is more than 230 thousand people. According to the ethnic composition, the population of the island is divided into Malanesians (Kanaks), Europeans (mainly immigrants from France) and other nations and nationalities. Kanaks predominate on the island - more than 42% of the total population and Europeans - about 37%. The official language is French, but about thirty other languages and dialects of the indigenous population are spoken on the island.
The administrative center of New Caledonia is the city of Noumea, located in the southwestern part of the island and having a population of more than 91 thousand inhabitants. You can also highlight two other towns in importance, which are the centers of the island’s provinces - Kone and Ve.
The history of the island of New Caledonia begins in 1774, it was during this period that it was discovered by the British navigator James Cook, who named it by the ancient name of Scotland, where the navigator himself was from. In 1853, France declared the island its colonial possession and used it for quite a long time to expel dangerous criminals. In 1946, France granted New Caledonia the status of a French overseas territory, which it still has today.
Wallis and Futuna(found in English sources Wallis and Futuna, but officially it sounds like Territory of Wallis and Futuna Islands) is a territorial union of the island group of two archipelagos Wallis (Uvea) and Futuna (Horn) in the South Pacific Ocean, belonging to France.
This territorial entity has a common maritime border dividing economic zones in the north with, in the east - with and Eastern (American) Samoa, in the southeast direction - with, in the south - with.
The formation area consists of two groups of islands of coral and volcanic origin: the Wallis archipelago, consisting of the large island of Uvea and a number of smaller islets and reefs, and the Futuna archipelago, consisting of the two larger islands of Futuna and Alofi and small coastal reefs. The landscape of the islands is mostly hilly, the coastline is replete with coral reefs. total area The landmass of the Wallis and Futuna territorial entity is just over 270 square kilometers.
Only two islands from this territorial association are considered inhabited - these are Futuna and Uvea, the total population is slightly more than 13 thousand people. In terms of national and ethnic composition, the overwhelming majority (96%) are Polynesians (Wallis and Futuans), while Europeans (mainly French people from New Caleidonia) account for a little more than 1% of the total population. Official language is French, but the majority of the population speaks languages and dialects of the Polynesian group.
The administrative center of the territorial entity Wallis and Futuna is the port town on the island of Uvea - Mata Utu (population approximately 1,100 people); there are no other large cities on the islands.
The islands of Futuna and Alofi were discovered by Dutch navigators William Schouten and Jacob Lemer in 1616, who named them the Horn Islands in honor of their hometown. In 1776, the island of Uvea was discovered by an English military expedition led by Samuel Wallis, who named this group of islands in his honor. In 1886, France established a protectorate over the islands. In 1917, all the islands of the two archipelagos were declared a colony of France with the administrative center of the possession in New Caleidonia. The islands received the status of an overseas territory in 1961, and since 2003 they have been an overseas community of France.
French polynesia(in official sources it is listed as Overseas Community of France French Polynesia listen)) is a territorial entity that is part of the country of France and is located in the geographic center of the South Pacific Ocean. It has maritime borders according to the division of maritime economic zones in the western part (the economic zone is determined by the coastal waters of the Cook Islands, belonging to New Zealand), in the north-west direction - with Kiribati, in the south-east - with the waters of the Pitcairn Islands community.
The territory of French Polynesia consists of a number of archipelagos, predominantly of coral origin, consisting of coral reefs and atolls. It includes the archipelagos of Tuamotu (with the adjacent Gambier Islands), Society and Marquesas Islands and the Tubuai Islands. The total land area of French Polynesia is just over 4 thousand square kilometers.
Many of the islands of the above archipelagos are uninhabited even at the moment; the entire population, which is just over 280 thousand people, is concentrated on large strategically important islands. The ethnic composition of the islands is dominated by Polynesians, who make up about 78% of the total; Chinese immigrants also live on the islands, who make up about 15%, as well as immigrants from Europe, Australia and New Zealand. State language is French, but quite a lot of islanders speak Polynesian dialects.
The administrative center of French Polynesia is the port and resort town of Papaete, located on the largest island of this territorial entity - Tahiti. There are no other large and significant cities on the islands.
The history of French Polynesia for Europeans begins with the discovery of one of the islands of the Tuamotu archipelago by Magellan's expedition in 1521. This was followed by the discovery of the Marquesas Islands in 1595 by a Spanish expedition led by Alvaro Mendaña de Neira, in 1606 the island of Tahiti was discovered by a Spanish expedition under the command of Pedro Fernandez de Quiros, the Tubuai archipelago was discovered by J. Cook in 1777 during his second expedition, the most The Gambier Islands were the last to be discovered in 1797 by a British brig under the command of Wilson. At the beginning of 1842, France declared the island of Tahiti its protectorate, and by the end of the same year the same was done in relation to the Society Islands, Tuamotu, Tubuai and the Marquesas Islands. With the further expansion of France in this part of the Pacific Ocean in 1880, the protectorate was abolished and these territories began to be considered colonies of France. In the aftermath of World War II, at the beginning of 1946, the islands of French Polynesia received the status of overseas territories of France, and their inhabitants were recognized as French citizens. In 2004, French Polynesia became an Overseas Community of France, which remains the case to this day.
At the moment, the Pacific overseas territories of France have a more or less stable economy, which is based on the mining industry (New Caledonia) and tourism, which is the main source of income for the territories.
The current currency of the French Pacific Overseas Territories is French Pacific franc or, as they are also popularly called, CFP franc with the French abbreviation CFP, which stands for Colonies françaises du Pacifique (Pacific French Colonies), in recent times the abbreviation CFP has been deciphered as Change Franc Pacifique, which in translation means Pacific exchange franc, in the literature there is also such a name for this currency as Polynesian franc(XPF code 953). The name of the territory's currency comes from the name of the ancient monetary unit France, which is quite understandable due to their political dependence on the metropolis.
The CFP franc was introduced by decree of the French transitional government, which was dated September 26, 1945. Since in the post-war period the French franc, which was in circulation in the metropolis, was extremely unstable and unstable, it was decided to tie the introduced currency to the US dollar, which played a significant role in the Pacific region in the post-war period. By the end of 1949, a stable exchange rate of the CFP franc to the US dollar had been established, which was 50 francs per 1 US dollar. In 1948, the French government adopted a law, initially of a declarative nature, which deprived the Bank of Indochina of issuing functions in the French possessions in Oceania, but in fact the Bank of Indochina carried out an emission policy in this region until 1966-67 until its creation by law of December 22, 1966 The Emission Institute of the French Overseas Territories, which was finally organized and formed in April 1967. It was then that a series of banknotes and coins were issued, which are still in circulation today.
Now the CFP franc is tied to the euro by the principle of currency parity, and after its introduction in 2002, a rate was established that is still in effect today: approximately 8.4 euros per 1000 CFP francs.
1 French Pacific franc is divided into 100 centimes. Translated from French, “sentim” means a hundredth part of something. It is worth noting that the centime has not been used as a small change for a long time, due to its insignificant cost, but it has not been officially canceled by the issuing institute.
Currently, in all subjects of the Pacific overseas territories of France, banknotes of a single type are in circulation in denominations of 500 (five hundred), 1000 (one thousand), 5000 (five thousand) and 10,000 (ten thousand) CFP francs. Also in circulation are coins in denominations of 1 (one), 2 (two), 5 (five), 10 (ten), 20 (twenty), 50 (fifty) and 100 (one hundred) CFP francs.
CFP franc banknotes are different original design and motley color scheme, characteristic of the national ornaments of the inhabitants of Polynesia. On the front and back sides of the banknotes, local residents and their daily life and the nature of the islands are colorfully depicted. An exception is the CFP five thousand franc banknote, which features a portrait of Buggenville with drawings of ships and sailing ships on both the obverse and reverse. Denomination of banknotes in digital format depicted in the upper left and right corners of the bill, and in the letter expression - in the center of the obverse of the bill with a slight shift to the left.
All CFP franc notes were printed at the factories of the French National Mint.
It is worth noting an interesting fact: the coins that are in circulation in New Caledonia, as well as Wallis and Futuna, differ in reverse design from the coins of French Polynesia, although they are accepted as legal tender equally in all subjects of the Pacific overseas territories of France. Thus, on the reverse of New Caledonian coins a bird is depicted, and on the obverse of Polynesian coins there are palm trees and memorable places of the islands. The obverse of all coins of denomination up to 10 francs inclusive is decorated with the image of the national symbol of France - Marianne (Liberty) in full height with a torch and a horn of wealth, and on coins of higher denominations - her bas-relief profile. Almost all coins are made of aluminum, except for the one hundred franc coin, which is made of a nickel-bronze alloy.
In addition to the main circulating coins, each subject of these territories has issued a lot of commemorative and collection coins, which are also accepted as a means of payment. In particular, the commemorative coins issued by the Wallis and Futuna Islands Territory are interesting.
All coins in circulation in the French Pacific Overseas Territories were and continue to be minted by the French National Mint.
Tourists and guests arriving in any of the French Pacific Overseas Territories must exchange their cash currency to a local one is possible only in large cities that are administrative centers where bank branches and exchange offices operate. Guests and tourists should look for them at airports, hotels and large supermarkets. The commission of banking institutions here for currency exchange is 5%.
The French franc is the national currency of France. Was in circulation from 1795 to 2002. The symbol is ₣.
Along with the introduction of the franc, a decimal money account (1 franc = 10 decimes = 100 centimes) and a standard for gold and silver content came to Europe. It was determined for the Germinal franc in 1803, amounting to 1:15.5 and becoming the base ratio in the Latin Monetary Union. This union became the largest in Europe, it existed from 1865 to 1914 and had a great influence on the reform of the monetary systems of many countries, in particular Russia.
Since 1939, a new monetary union, the so-called franc zone, began to take shape. The exchange rates of its member countries were pegged to the franc (to the euro - since 2002). From 1974 to 1998, the franc was part of a basket of five currencies (dollar, German mark, yen, pound sterling, franc) of the International Monetary Fund, on the basis of which the SDR rate was calculated - special drawing rights.
The franc replaced the Parisian (9th-13th century, in the north of the country until the 17th century) and Tours livres. The livre was divided into 20 soles (colloquially “sous”) or 240 deniers. Since the 17th century, larger coins have been issued - gold louis d'or. The Louisdor was first issued during the reign of Louis XIII and weighed 6.751 grams of .917 gold. By the beginning of the 18th century, the weight of the louis d'or was increased to 8.158 grams, and later to 9.79. Coins were issued in 0.5, 2, 4, 8 and 10 louis, they were equal to 20 livres and ecus, equal to 5 livres.
Ecu (from the Latin “shield”) were minted at different times in both gold and silver. Coins of similar etymology were called “escudo” in Portugal and Spain, and “scudo” in Italy, these names also come from the word “shield” in the respective languages.
Su is the common name for the salt coin, which, with the transition to decimal system replaced by a 5 centime coin. However, this tradition turned out to be so strong among the people that the French called 5 centimes “sou” for more than two hundred years, until the introduction of the euro in the country. And even today this word is used colloquially to define monetary “trifles.”
A smaller coin of change in France, in use from the 14th to the 18th centuries, was called the liard. It was equal to 3 deniers, during the time of Louis XV it became the smallest French small change coin that was minted before the introduction of the decimal coin system. The Paris Mint was founded under King Charles the Bald in 864.
In 1790, paper money came into circulation in France, they were called assignats; in troubled revolutionary times they replaced coins made of gold and silver. Government spending increased, forcing it to print more and more paper money. As a result, by 1795 the country became bankrupt and was forced to return to the use of coins.
The livre was replaced by a new monetary unit - the franc. The 1 franc coin weighed 5 grams with a silver content of 4.5 grams. In 1803, the gold standard (“germinal franc”) was established, equal to 0.2903 grams, and gold Napoleons began to be issued instead of louis d'or.
However, the franc can be called the new monetary unit of France rather conditionally. IN different years, under different rulers, gold or silver coins with the same name were minted, for example, in 1360 - the so-called gold “horse franc”.
During the First World War, gold coins were replaced by banknotes, and silver coins by aluminum bronze.
The exchange of paper francs for gold was briefly reinstated in 1928. Since 1933, France led the Gold Bloc (Italy, Poland, Switzerland, Belgium, the Netherlands), these countries pledged to provide mutual assistance in order to maintain the gold standard. But soon a global economic crisis broke out and by 1936 the Gold Bloc, like the gold standard, was finally liquidated.
During World War II, the franc was tied to the Reichsmark. Coins were issued depicting the coat of arms of the Vichy government. From 1944 to 1948, US-printed banknotes in denominations ranging from 2 to 500 francs were used in France, then the country switched to its own currency.
It was decided to leave the design of the post-war French franc the same, similar to the design of 1934-1940, but the coins were minted from cheap aluminum. The country's financial situation after the war was greatly shaken, the franc constantly depreciated. So, in 1944 the dollar to franc exchange rate was 1:50, in 1958 it was already 1:420.
In 1960, de Gaulle's government decided to carry out currency reform.
Old francs were exchanged for new ones at a ratio of 100:1. The old 1 and 2 francs remained in circulation as coins equivalent to 1 and 2 centimes, respectively. Inflation, however, gradually devalued the new franc, and in 1999, by the time of the transition to the euro, it was already worth 8 times less.
Since August 1971, a dual currency market was introduced in the country. Since March 1979, France joined the European Monetary System. The last French franc notes featured prominent figures from France:
- 20 francs – composer Claude Debussy;
- 50 francs – writer and pilot Exupery;
- 100 francs – artist Paul Cezanne;
- 200 francs – engineer Gustave Eiffel;
- 500 francs – physicists Pierre and Marie Curie.
France became the first country in Europe to make the transition to the euro. It was completed by March 2002, at a rate of 6.55957:1. Coins were accepted for exchange until February 2005, and banknotes until February 2012. In France, this day was called “the day of the funeral of the Frank.”
The design of the national side of the euro coins is based on three traditional types of French coins:
- 1, 2, 5 euro cents – image of the national symbol of France, Marianne;
- 10, 20, 50 euros - image of the Sower;
- 1 and 2 euros - an image of a stylized tree and the motto: “Freedom, equality, fraternity.”
All euro coins feature 12 EU stars, the designations of France (RF) and the mint, and the year of minting is indicated.
France, like other Eurozone countries. issues commemorative coins with a face value of 2 euros, for example, dedicated to the Treaty of Riga, issued in 2007.
Collectible euro coins have been issued since 2002 and are presented in various denominations and materials - silver, gold. In just ten years, more than 350 types of such coins were issued.
Frank – gold coin, which has been in circulation in the country since April 7, 1795. Livres, the money of France that was in use before him, depreciated, so residents of the state were forced to switch to a new monetary unit. The first French franc coin weighed about 5 g and contained 4.5 g of silver.
An interesting fact is that the French currency pushed other European countries to switch to the decimal principle of monetary accounting. It lies in the ratio of gold and silver in coins (1:15.5). Some other states that were not part of the European Union, including Russian empire, also used the French standard for gold content in coins.
During the reign of Napoleon I, the development of money in France reached highest point. A week after he came to power, the government’s safes were opened and only 167 thousand francs were found in them, which would not even be enough to pay for postal services that would inform the French about the change of government. At that time, the state debt amounted to 474 million francs.
The fact that today the national currency is the euro, and not the famous French franc, greatly facilitates the travel of tourists. Now those who wish to visit the country no longer have problems with currency exchange, and this helps to significantly save costs during the trip.
When planning a visit to financial institutions and currency exchange offices, keep in mind that the average bank is open from 10 a.m. to 5 p.m., and exchange offices are usually open from 9 a.m. to 6 p.m. Changing currency in France is less profitable than in the Russian Federation, so you should think about the exchange in advance and take euros with you, not dollars or rubles. The most profitable ones are French exchangers with a “no commission” sign, but they are rare.
When entering the country, you are required to declare large sums cash, over 10 thousand euros. This amount includes not only banknotes, but also bills of exchange, traveler's checks, shares and other securities.
You can pay by credit card in stores, restaurants, gas stations, and even in taxis. You can’t do without cash except when buying something second-hand, for example, at a flea market.
It is best to take a card with the main currency Euro. When paying with ruble and dollar cards, money is lost on conversion and commissions.
Almost any card, credit or debit, in dollars, euros or rubles is suitable for payments. But problems may arise with structurally and morally outdated bank cards with magnetic stripe. Not all stores can be used with such cards; problems may arise with paying at automatic gas stations or with getting cash from an ATM.
French commemorative coins
By 2016, EU countries had issued about 250 different commemorative two-euro coins. France did not stand aside either. General form coins, with the exception of the image in the central part of the obverse, are unified. All of them are minted with a diameter of 25.75 mm, a thickness of 2.2 mm and a weight of 8.5 grams. Headband and inner part The banknote is made from different materials.
The outer part, with the EU stars, is made of copper-nickel alloy (75% copper, 25% nickel), the inner part, with the main image, is made of nickel brass, with the addition of zinc (75% copper, 20% zinc, 5 % - nickel). The rim turns out to be “silver”, and the core is “golden”, since zinc gives the alloy a golden color.
Do not confuse commemorative coins with commemorative coins. If the latter are minted using precious metals (silver, gold and platinum), they are made in small quantities and initially have both a higher production cost and a significantly higher selling price, then commemorative coins are issued in significant editions and reach numismatists and souvenir hunters at a more modest price, from face value to 5-6 euros maximum.
The circulation of commemorative banknotes usually ranges from one million to 20 million copies. This indicator does not significantly affect the price of coins. Conventionally, all coins can be divided into “specialized”, local French and pan-European or global.
“Local” banknotes, as a rule, are issued in smaller quantities. Thus, 2 euros for the centenary of the birth of Abbot Pierre or 150 years since the birth of Pierre de Coubertin were issued in the amount of one million copies. Coin circulation for the tenth anniversary of the economic and monetary European Union, for the 50th anniversary of the Treaty of Rome and for the tenth anniversary cash circulation euro is 10 million copies. Other banknotes dedicated to pan-European and global events and anniversaries are also minted in quantities of 10 to 20 million.
Some coins are distinguished by the presence of a national component, but have a more global significance. This is 2 euros for the 70th anniversary of Charles de Gaulle's address “To all Frenchmen”, 30th anniversary of Music Day in France, 50th anniversary of Franco-German friendship. All of these coins were issued in mintages ranging from 9,400,000 to 10,200,000.
Visually, French commemorative money looks quite attractive, from the image of the charismatic mustachioed Pierre de Coubertin or the bearded Abbé Pierre to the usual inscription, without a design, on the 2008 coin “French Presidency of the EU” and a sketchy image of a man next to the euro symbol on the coin in honoring the tenth anniversary of the monetary union of European countries.
Like any member country of the European Commonwealth, France also had its own currency before the advent of the pan-European monetary system. The French franc was the official currency of France before the introduction of European country euros, that is, until January 1, 1999. Together with the euro, it was in circulation until February 17, 2002.
The history of the French franc
The history of the French franc as the currency of France before the euro is quite long. The franc was first introduced into circulation in 1360 by the French king John II the Good in honor of his release from English captivity, into which he fell after the Battle of Poitiers in 1356. The first French coins weighed 3.87 grams.
This money was in circulation in France for almost 3 centuries until french king Louis XIII in 1641 abolished these coins and introduced the new "golden Louis" and "ecu" (French for "coat of arms"). Nevertheless, people continued to use the word “franc” to name the new coins.
Times of the French Revolution
At the end of the 18th century it began in France Great Revolution. In 1795, at the National Convention, the franc was again officially restored and designated the official coin of France.
In 1800, the Bank of France is created, and the official national currency of France demonstrates its stability. Since 1803, the French franc has been based not only on gold, but also on silver, with the value of the gold franc being greater than the value of silver coins 15 times. The stability of the gold franc was very high; throughout the 19th century and until the beginning of the 20th century, it remained one of the most reliable currencies in Europe. Beginning in 1808, the Bank of France began to issue not only coins, but also paper banknotes.
Currency of France during World Wars I and II
The stability of the gold franc was undermined by the First and then the Second World Wars. Shortage of products during the war, as well as the restoration of the country, which was carried out due to unjustified large output money supply, led to inflation and a fall in the value of the French currency. Thus, the purchasing power of France's currency fell to 70% from 1915 to 1920 and to 43% from 1922 to 1926. The huge payments that Germany was obliged to make after losing the war did not strengthen the French economy.
In 1928, Raymond Puncare won the election and became Prime Minister of France. Starting this year, the Poincaré franc was introduced into circulation, which had a value of 20% of the gold franc of the early 20th century. From 1928 to 1936, the French monetary system returned to the gold standard, but the French currency continued to lose value. Subsequent Second World War, during which much of France was occupied by Germany, and the post-war period only worsened the situation to the point that in 1959 the franc was worth less than 2.5% of its value in 1936.
New franc and euro
In January 1960, due to the complete depreciation of the old banknotes, a new French franc was created, the value of which was estimated at 100 old francs. All old monetary units continued to circulate, and the abbreviation NF appeared on the new francs. This measure contributed to the relative stabilization of the French national currency, which in the second half of the 20th century was characterized by the same slow inflation as most European countries. In 2002, when the country completely abandoned its currency and switched to the euro for good, the new French franc was worth less than 12.5% of its original value.
Many French people of a certain age group continued to calculate their monetary amounts in francs. During the period of the introduction of the euro, there was a lot of speculation in the exchange of old and new monetary units for the European currency. Starting from January 1, 1999, the French currency exchange rate was fixed: 6.56 francs gave 1 euro. To easily exchange these currencies, they use the following formula: they add exactly half to the amount of francs available, and then divide the resulting number by 10, resulting in an equivalent amount in euros with an error of 1.6%.
Note that the introduction of the euro did not lead to the complete disappearance of the franc as a valid monetary unit. It survives in the French-ruled island territories of New Caledonia, French Polynesia and Wallis and Futuna. In these territories, the so-called Pacific franc is in force, which has the following value relative to the euro: 1000 francs = 8.38 euros.
French coins
Knowing what currency was in France before the adoption of the euro, we will give a description of the French franc coins, which have very beautiful mintage. There were coins of 1, 5, 10 and 20 centimes, as well as 1/2, 1, 2, 5, 10, 20 and 100 francs. Until 1965, the 1/2 franc coin was not issued, but instead the 50 centime banknote was used. The 10 franc coin began to be issued only in 1974. Since 1966, 5 centimes have also been produced with a new design and from a new metal (aluminum bronze). Until 1966, it was minted from stainless steel.
The design of almost all coins has an agricultural theme. On metal banknotes of various values you can see images of ears of wheat and a girl doing sowing work. Only the 10, 20 and 100 franc coins show a different theme. Thus, on 10 francs the Genius of Liberty is depicted, on 20 - Mont Saint-Michel, and on 100 - the Pantheon in Paris.
French banknotes
Before the advent of the euro money turnover France had French banknotes with the following denominations: 20, 50, 100, 200 and 500 francs. The brown 20-franc note depicts the famous French composer Claude Debussy, the blue 50-franc note depicts the French writer Antoine de Saint-Exupéry, the orange 100-franc note shows a portrait of the French artist Paul Cézanne, and the red 200-franc note depicts the world-famous engineer Gustave. Eiffel, and on the green 500 franc note you can see the scientists Marie and Pierre Curie.
