Comorian Franc


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Comorian Franc

The currency of Comoros. It began with the Madagascar-Comoros CFA franc, which ended with Madagascar's withdrawal in 1973. It was pegged to the French franc and since 1999 has been pegged to the euro.
References in periodicals archive ?
The exchange rate is set at: 1 French franc = 50 Comorian Francs.
These agreements guarantee the convertibility of the CFA Franc (issued by the Central Bank of West African States and by the Central African States Bank) and the Comorian Franc (issued by the Comorian Central Bank) with the French Franc at a fixed parity.
Besides, the Economic and Finance Committee will be consulted before a modification of the parity between the Euro and the CFA and Comorian Franc.
Along with other members of the Franc Zone, the Comoros decided to agree to a devaluation of the Comorian franc against the French franc in January of this year.
Each of the two groups and the Comoros maintain separate currencies - the Franc de la Communaute Financiere Africaine for the UMOA countries, the Franc de la Cooperation Financiere en Afrique Centrale for the BEAC countries and the Comorian franc for the Comoros.