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 It was replaced by the euro in 1999 and was withdrawn from circulation in 2002.
References in periodicals archive ?
The exchange rate is set at: 1 French franc = 50 Comorian Francs.
At current valuation levels the D-Mark, sterling and both the Swiss and French francs are looking expensive.
During the week of September 18, the German mark rose 4.6 percent against the Italian lira, to ITL 1130.73, and 0.7 percent against the French franc, to FRF 3.4645.
Rates of exchange determine how many French francs or Italian lire you can buy for one U.S.
At the end of the War, African countries were still under colonial rule and majority of Francophone African states used the French Franc as their currency following colonial France's decision to destroy and stop any circulation of indigenous African currencies.
French francs and German marks are also accepted in Luxembourg.
Richard Jones, the Oxfam Cymru media officer, said just a few unwanted foreign coins can change a life - with a single French franc being enough to buy one kilo of maize and one Irish punt enough to buy a school book.
As the Euro becomes the new currency in 12 European states on January 1, old currencies, including the French franc, and Spanish peseta will quickly stop being legal tender.
With the French franc offering the best value in years there's no excuse NOT to take the family for a weekend, a special treat...or just for fun.
On the other hand, the French Franc's gains on the Dollar and on Sterling since July have enabled it to appreciate in effective terms despite it's recent weakness against the German Mark.
The French franc came under selling pressure but stabilized amid intervention purchases of francs and a rise in French interest rates.
These problems were highlighted by the recent speculative pressure weakening the French franc against the DM.