French Franc

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French Franc

The former currency of France. It traces its origins to the currency issued by King John the Good in 1360. The franc became the national currency following the French Revolution. It was initially pegged to silver, but wars of the 18th century led to the issue of paper currency, which caused inflation. In 1803, it was repegged to gold and silver. The franc was abandoned when France was part of the Latin Monetary Union but was readopted during World War I. Following World War II, the franc joined the Bretton Woods System and floated after that system's collapse. It was replaced by the euro in 1999 and was withdrawn from circulation in 2002.