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The '''franc''' is any of various units of [[currency]]. One franc is typically divided into 100 [[centime]]s. The name is said to derive from the [[Latin]] inscription | The '''franc''' is any of various units of [[currency]]. One franc is typically divided into 100 [[centime]]s. The name is said to derive from the [[Latin]] inscription {{lang|la|francorum rex}} ([[Style of the French sovereign|King of the Franks]]) used on early French coins and until the 18th century, or from the French ''franc'', meaning "frank" (and "free" in certain contexts, such as {{lang|fr|coup franc}}, "free kick"). | ||
The countries that use francs today include Switzerland, Liechtenstein, and most of [[Francophone Africa]]. The [[Swiss franc]] is a major world currency today due to the prominence of | The countries that use francs today include Switzerland, Liechtenstein, and most of [[Francophone Africa]]. The [[Swiss franc]] is a major world currency today due to the prominence of [[Swiss financial institutions]]. | ||
Before the introduction of the [[euro]] | Before the introduction of the [[euro]] on 1 January 1999, francs were also used in France, Belgium and Luxembourg, while Andorra and Monaco accepted the [[French franc]] as [[legal tender]] ([[Monégasque franc]]). The franc was also used in former [[French colonial empire|French colonies]] including Algeria and Cambodia. The franc is sometimes Italianised or Hispanicised as the ''franco'', for instance in Luccan franco. | ||
==Origins== | ==Origins== | ||
[[File:Franc a cheval de Jean le Bon 5 decembre 1360 or 3730mg.jpg|thumb|right|The first franc ever minted, the ''franc à cheval'', was minted upon [[John II of France|Jean le Bon]]'s return from captivity from 5 December 1360, and featured combative imagery. Gold, 24 [[ | [[File:Franc a cheval de Jean le Bon 5 decembre 1360 or 3730mg.jpg|thumb|right|The first franc ever minted, the ''franc à cheval'', was minted upon [[John II of France|Jean le Bon]]'s return from captivity from 5 December 1360, and featured combative imagery. Gold, 24 [[karat]]s, 3.73 g. It conveniently coincided with the account value of one [[livre tournois]].]] | ||
The franc was originally a French [[gold]] coin of 3.87 g minted in 1360 on the occasion of the release of King [[John II of France|John II ("the Good")]], held by the English since his capture at the [[ | The franc was originally a French [[gold]] coin of 3.87 g minted in 1360 on the occasion of the release of King [[John II of France|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]]'' (Tours pound). | ||
==French franc== | ==French franc== | ||
{{main|French franc}} | {{main|French franc}} | ||
The [[French franc]] was originally a gold coin issued in France from 1360 until 1380,<ref>L. Ciani, Les Mones Royales Françaises (1926) p.77 and p.92</ref> then a silver coin issued between 1575 and 1641.<ref>L. Ciani, Les Monnaies Royales Françaises (1926) p.314 and p.356</ref> The franc finally became the national currency from 1795 until 1999<ref>{{cite book |last1=Norwich |first1=John J. |title=A History of France |date=2018 |publisher=John Murray Publishers |isbn=978-0-8021-4777-6 |page=232}}</ref> (franc coins and notes were legal tender until 2002). Though abolished as a legal coin by King [[ | The [[French franc]] was originally a gold coin issued in France from 1360 until 1380,<ref>L. Ciani, Les Mones Royales Françaises (1926) p.77 and p.92</ref> then a silver coin issued between 1575 and 1641.<ref>L. Ciani, Les Monnaies Royales Françaises (1926) p.314 and p.356</ref> The franc finally became the national currency from 1795 until 1999<ref>{{cite book |last1=Norwich |first1=John J. |title=A History of France |date=2018 |publisher=John Murray Publishers |isbn=978-0-8021-4777-6 |page=232}}</ref> (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 (coin)|louis]] and silver [[écu]], the term franc continued to be used in common parlance for the [[livre tournois]]. 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]] at 1 euro = 6.55957 FRF on 31 December 1998, and after the [[introduction of the euro]] notes and coins, ceased to be legal tender after 28 February 2002, although they were still exchangeable at banks until 19 February 2012.<ref>{{Cite web |last=Harris |first=Elinor |date=April 20, 1954 |title=The Value of the French Franc |url=https://www.federalreserve.gov/pubs/rfd/1954/235/rfd235.pdf |website=[[Federal Reserve]]}}</ref> | The value of the French franc was locked to the [[euro]] at 1 euro = 6.55957 FRF on 31 December 1998, and after the [[introduction of the euro]] notes and coins, ceased to be legal tender after 28 February 2002, although they were still exchangeable at banks until 19 February 2012.<ref>{{Cite web |last=Harris |first=Elinor |date=April 20, 1954 |title=The Value of the French Franc |url=https://www.federalreserve.gov/pubs/rfd/1954/235/rfd235.pdf |website=[[Federal Reserve]]}}</ref> | ||
==CFA and CFP francs== | ==CFA and CFP francs== | ||
Fourteen African countries use the [[ | Fourteen African countries use the [[franc CFA]] (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.<ref>{{cite web|url=https://af.reuters.com/article/investingNews/idAFKBN1YQ0BN-OZABS|archive-url=https://web.archive.org/web/20191222193703/https://af.reuters.com/article/investingNews/idAFKBN1YQ0BN-OZABS|url-status=dead|archive-date=22 December 2019|title=West Africa renames CFA franc but keeps it pegged to euro|publisher=Reuters|access-date=22 December 2019}}</ref> | ||
A separate ([[CFP franc|franc CFP]]) circulates in [[Islands controlled by France in the Indian and Pacific oceans#Pacific Islands|France's Pacific territories]], worth €0.0084 (formerly 0.055 French franc). | A separate ([[CFP franc|franc CFP]]) circulates in [[Islands controlled by France in the Indian and Pacific oceans#Pacific Islands|France's Pacific territories]], worth €0.0084 (formerly 0.055 French franc). | ||
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One Luxembourg franc was equal to one Belgian franc. Belgian francs were legal tender inside Luxembourg, and Luxembourg francs were legal tender in the whole of Belgium. (In reality, Luxembourg 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.) | One Luxembourg franc was equal to one Belgian franc. Belgian francs were legal tender inside Luxembourg, and Luxembourg francs were legal tender in the whole of Belgium. (In reality, Luxembourg 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 and German, Belgium's other official languages, was {{lang|nl|frank}}. | The equivalent name of the Belgian franc in Dutch and German, Belgium's other official languages, was {{lang|nl|frank}}. In Luxembourg the franc was called {{lang|lb|Frang}} (plural {{lang|lb|Frangen}}) in [[Luxembourgish]]. | ||
==Swiss franc and Liechtenstein franc== | ==Swiss franc and Liechtenstein franc== | ||
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==Saar franc== | ==Saar franc== | ||
The [[Saar franc]], linked at par to the French franc, was introduced in the [[ | 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 [[West Germany|Federal Republic of Germany]], nevertheless, in its new [[States of Germany|member state]] 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. | 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. | ||
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| {{flag|Belgium}}|| [[Belgian franc]] | | {{flag|Belgium}}|| [[Belgian franc]] | ||
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| {{flag|France}} <small>([[ | | {{flag|France}} <small>([[Overseas collectivities]])</small>|| [[French franc]] | ||
|- | |- | ||
| {{flag|Luxembourg}}||[[Luxembourgish franc]] | | {{flag|Luxembourg}}||[[Luxembourgish franc]] | ||
Latest revision as of 20:14, 15 March 2026
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This article needs additional citations for verification. (December 2025) |
The franc is any of various units of currency. One franc is typically divided into 100 centimes. The name is said to derive from the Latin inscription francorum rex (King of the Franks) used on early French coins and until the 18th century, or from the French franc, meaning "frank" (and "free" in certain contexts, such as coup franc, "free kick").
The countries that use francs today include Switzerland, Liechtenstein, and most of Francophone Africa. The Swiss franc is a major world currency today due to the prominence of Swiss financial institutions.
Before the introduction of the euro on 1 January 1999, francs were also used in France, Belgium and Luxembourg, while Andorra and Monaco accepted the French franc as legal tender (Monégasque franc). The franc was also used in former French colonies including Algeria and Cambodia. The franc is sometimes Italianised or Hispanicised as the franco, for instance in Luccan franco.
Origins
The franc was originally a French gold 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 (Tours pound).
French franc
The French franc was originally a gold coin issued in France from 1360 until 1380,[1] then a silver coin issued between 1575 and 1641.[2] The franc finally became the national currency from 1795 until 1999[3] (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 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 at 1 euro = 6.55957 FRF on 31 December 1998, and after the introduction of the euro notes and coins, ceased to be legal tender after 28 February 2002, although they were still exchangeable at banks until 19 February 2012.[4]
CFA and CFP francs
Fourteen African countries use the franc CFA (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.[5]
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 francs 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 Luxembourg 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 in 1832 adopted its own Belgian franc, equivalent to the French one, followed by Luxembourg adopting the Luxembourgish franc in 1848 and Switzerland in 1850. Newly unified Italy 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 0.290322 g 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 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 and formed the basis for full economic union in 1932.
Like the French franc, the Belgian and Luxembourg francs ceased to exist on 1 January 1999, when they became fixed at 1 EUR = 40.3399 BEF/LUF, thus a Belgian or Luxembourg franc was worth €0.024789. Old franc coins and notes lost their legal tender status on 28 February 2002.
One Luxembourg franc was equal to one Belgian franc. Belgian francs were legal tender inside Luxembourg, and Luxembourg francs were legal tender in the whole of Belgium. (In reality, Luxembourg 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 and German, Belgium's other official languages, was frank. In Luxembourg the franc was called Frang (plural Frangen) in Luxembourgish.
Swiss franc and Liechtenstein franc
The Swiss franc (ISO code: CHF or 756; Script error: The function "langx" does not exist.; Script error: The function "langx" does not exist.), which appreciated significantly against the new European currency from April to September 2000, remains one of the world's strongest currencies, worth as of August 2023[update] just over one euro. The Swiss franc is used in Switzerland and in Liechtenstein. 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 (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, nevertheless, in its new member state 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 using a franc
As of 2023
Collectivities franc
| Countries | Currency | ISO 4217 code |
|---|---|---|
| French Polynesia French Polynesia | CFP franc | XPF |
| New Caledonia New Caledonia | ||
| France Wallis and Futuna |
Selected obsolete
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See also
- Cape Verdean escudo
- Latin Monetary Union
- The Latverian franc is the currency of the fictional country of Latveria.
- Special settlement currencies
- Livre tournois (French pound)
- Roman currency
- New Hebrides franc
- Westphalian frank
- Reunion franc
References
- ↑ L. Ciani, Les Mones Royales Françaises (1926) p.77 and p.92
- ↑ L. Ciani, Les Monnaies Royales Françaises (1926) p.314 and p.356
- ↑ Norwich, John J. (2018). A History of France. John Murray Publishers. p. 232. ISBN 978-0-8021-4777-6.
- ↑ Harris, Elinor (April 20, 1954). "The Value of the French Franc" (PDF). Federal Reserve.
- ↑ "West Africa renames CFA franc but keeps it pegged to euro". Reuters. Archived from the original on 22 December 2019. Retrieved 22 December 2019.
External links
- Articles needing additional references from December 2025
- Articles containing Latin-language text
- Articles containing French-language text
- Articles containing Dutch-language text
- Articles containing Luxembourgish-language text
- Articles containing potentially dated statements from August 2023
- All articles containing potentially dated statements
- Franc
- Currencies of Europe
- Denominations (currency)