franc

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franc

1. the former standard monetary unit of France, most French dependencies, Andorra, and Monaco, divided into 100 centimes; replaced by the euro in 2002
2. the former standard monetary unit of Belgium (Belgian franc) and Luxembourg (Luxembourg franc), divided into 100 centimes; replaced by the euro in 2002
3. the standard monetary unit of Switzerland and Liechtenstein, divided into 100 centimes
4. the standard monetary unit, comprising 100 centimes, of the following countries: Benin, Burkina-Faso, Cameroon, the Central African Republic, Chad, Congo-Brazzaville, C?te d'Ivoire, Equatorial Guinea, Gabon, Guinea-Bissau, Mali, Niger, Senegal, and Togo
5. the standard monetary unit of Burundi (Burundi franc), Comoros (Comorian franc), Democratic Republic of Congo (formerly Za?re; Congolese franc), Djibouti (Djibouti franc), Guinea (Guinea franc), Madagascar (franc malgache), Rwanda (Rwanda franc), and French Polynesia and New Caledonia (French Pacific franc)

Franc

 

(1) The monetary unit of France; it is divided into 100 centimes. A French franc with a gold content of 0.29032258 g of fine gold was introduced to replace the livre; it was in circulation from 1799 to 1914. A franc with this gold content is used as a unit of account by the Bank for International Settlements and the Universal Postal Union. The gold content of the franc has been lowered several times (to 0.05985 g of fine gold in 1928, 0.00746113 g in 1945, and 0.0018 g in 1958). On Jan. 1, 1960, a new franc, equivalent to 100 old francs, was introduced. From Apr. 24, 1972, to Jan 19, 1974, and from July 10, 1975, to Mar. 15, 1976, the franc was included in the system of limited exchange rate fluctuations of the countries in the Common Market (±2.25 percent against the central exchange rate).

The French franc is the monetary unit of France’s overseas departments (Guadeloupe, French Guiana, Martinique, and Reunion), the overseas territories of St. Pierre and Miquelon, and the principality of Monaco. According to the rate of exchange of the State Bank of the USSR of June 1977, 100 French francs were equivalent to 15 rubles.

(2) Either of two monetary units introduced on the basis of a decree by the French government on Dec. 26, 1945, for countries in Africa and the Pacific included in the franc zone (seeCURRENCY ZONES). In 1960 the franc used in Africa was named the franc of the Communauté Financière Africaine (CFA franc), and in 1967 the Pacific franc was named the franc of the Communauté Financière du Pacifique.

The CFA franc is the monetary unit of Benin (formerly Dahomey), the Ivory Coast, Upper Volta, Gabon, Cameroon, the Comoros, the Congo, Niger, Senegal, Togo, the Central African Republic, and Chad, with 50 CFA francs being equal to one French franc. The franc is also the monetary unit of Mali (100 Malian francs equaling one French franc); according to the June 1977 rate of exchange of the State Bank of the USSR, 1,000 Malian francs were equivalent to one ruble 50 kopeks. Djibouti (Afars and Issas) also uses the franc, with 38.6 Djibouti francs equivalent to one French franc. The Pacific franc is the monetary unit of New Caledonia, French Polynesia, and the islands of Wallis and Futuna; 18.18 Pacific francs are equivalent to one French franc. The franc is also the monetary unit of the New Hebrides, a joint possession of Great Britain and France; 16.16 New Hebrides francs are equivalent to one French franc.

(3) The monetary unit of Belgium, Luxembourg, Switzerland, Burundi, Rwanda, and Madagascar. The Belgian and Luxembourg francs are equal in value and are included in the system of limited exchange rate fluctuations in the Common Market. According to the June 1977 rates of exchange of the State Bank of the USSR, 100 Belgian francs were equivalent to two rubles six kopeks, and 100 Swiss francs were equivalent to 29 rubles 47 kopeks.

E. D. ZOLOTARENKO

References in periodicals archive ?
exchange reserves only suppressed, and did not solve, the major problem of the restoration years, that is, a strong French franc and a weak British pound.
The factors which determine the exchange rate of the French franc against the dollar or the yen or the Deutschmark often bear little relevance to the situation in the 14 African Franc Zone members.
He also claimed 100,000 French francs for each of his two children.
French telecommunications equipment manufacturer Sagem said it had won an order for GSM terminals worth over one billion French Francs (more than Euro160 million) from the leading German mobile phone operator Mannesman Mobilfunk.
From January 1988 until the end of 1992, we invested 4 billion French francs ($8 billion), some of which was spent on acquisitions.
3M is now able to process all of these functions in either euro or French Francs, at the customer's preference.
4 billion French Francs (Euro 210 million) and manages some 70,000 advertisement boards in France, most of them in large format.
Total proceeds for CIDEM of the transactions, including the repayment of loans, are expected to amount to approximately French Francs 11.
JCDecaux manages 360,000 advertising billboards in 33 different countries and is expected to have a world-wide annual turnover of 9 billion French Francs this year.
5 billion French Francs (Euro 686 million) a year in 2000 and 2001 in extending its national coverage, i.
Rosinoer oversaw the transformation of Clarins into a major force in cosmetics, skin care and fragrance, with annual sales of 4 billion French francs and more than 4,000 employees.
French media equipment firm Sagem has won orders for more than 500,000 digital decoders from German pay-TV company Premiere World, worth more than one billion French Francs (Euro 150 million).