Many of you probably know the Franc was the official money of France. However, not many know how old it is. This currency was first circulated hundreds of years ago… 1360 to be exact. It was pegged to 1 livre tournois, a type of currency which has its origins all the way to the Middle Ages. A different currency was introduced called the Germinal Franc in 1803.
Presently, the euro is the official type of money in France just as all member countries such as italian currency. It has EUR as the abbreviated currency code. You may be familiar with its monetary symbol, the €. Do you want to know more about this money? Read on!
Why are some Americans confused on the types of money used in here? They seem unsure of the denominations not just in here but all of Europe. Here is a video explaining how to discuss money in French:]
Click here to see the video explaining currency in France.
The money for the country was circulated during the time of the Latin Monetary Union. After World War I, France joined a sub-currency group which was referred to as the German Reichsmark. From there, they were able to transition into the Brent Woods system. When the French Franc was circulated in 1960, its value suffered because there were so many different types of money issued up until the 1700s. If you are in New York, you should exchange your Dollars for euros at the foreign exchange.
Previous Currency Name & The Name of Currency Today
Have you heard of the term collectivités d’outre-mer? It is sometimes referred to as COM. This is how they called the Franc in the old days. The abbreviation back then was CFP. Here’s another interesting piece of trivia: France was one of the earlier members of the Eurozone that used the Euro while maintaining its original money. This was until 2002. Now, it is exclusively circulating and transacting with the Euro.
Countries That Recognized the Franc During The Time of the French Republic
How about a quick Geography lesson? What countries comprised the French Republic? Answer: Corsica which is an island in the Mediterranean and eight more countries that were previously under French rule. The people who reside in these territories have chosen to maintain their citizenship. But there was one holdout, the island of French Guiana. This island is located near South America; near its northeast coast. This territory is composed of other small islands which include Martinique and Guadeloupe which are located near the West Indies. In the Indian Ocean, you have the territories of Mayotte and Réunion while in the South Pacific, you have Wallis, New Caledonia, and Futuna. Toward the far off coast of Canada resides Miquelon and Saint Pierre. All of these linkages is the reason why the term “Franc” was used by other moneys before the country became part of the Eurozone and shifted to the Euro.
Countries That Use French Money
Which countries use French money? These are the Francophone nations which are comprised of Liechtenstein, Africa, and Switzerland. For the longest time; centuries actually, the country was considered the cultural melting pot in the West. Many of the intellectuals, moneyed class in Europe sought to learn to read, write, and speak French. It was considered brilliant to have the ability to cite quotations and phrases from popular philosophers and novelists. Those with a lot of spending money, used it to vacation, particularly its city of Paris. Their itinerary would include visits to its famed museums, world-class restaurants, and the city where they can take in its rich architecture, art, and sense of fashion.
What Is The World’s Number One Holiday Vacation Place?
France was nearly laid to waste from World War II. Fortunately, the country was able to rise up from the ashes like the mythical Phoenix. Fast-forward decades later and France has become an economic powerhouse in Europe. It is a thriving centre for commerce and is leading the way with its armed forces, science, and technology. It has also grown to become one of the world’s most popular vacations spots. This country is definitely the preferred destination among countries in Europe.
Tourists Love The Countries Economy
The country has one of the most powerful economies in the modern world. When the country made the decision to be part of the Great Eight, it allowed it to focus on its economy by prioritizing agricultural and other industries. By internally focusing on its own industries, France was able to generate a lot of jobs and lower the unemployment rate. One of its key industries is tourism which continues to contribute to job creation. The unemployment rate is only 9.6% which is comparatively low versus other countries in Europe.
Why The Economy Is Stable
France’s continued investment in its food processing and car manufacturing industries have also contributed to the stability of the country’s economy. The genius behind France’s inward-building strategy is that when one industry fail, another rises to continue the country’s upward growth trend. Therefore, France is never cash-strapped. Its industries will continue to generate revenues for the economy. However, France like most countries imports petroleum products.
What Other Countries Use The Euro?
Other than the Czech Republic, the United Kingdom, and Denmark, the Euro is heavily circulated throughout Europe. Its name the Euro is identified by the popular symbol of €. It is also one of the most widely denominated currencies with 1 and 2 as coin plus other identified in cents. The member countries of the Eurozone have taken steps to design their respective coins in order to differentiate them from others. However, you can still use one country’s version of the euro in another country.
How to Get the Best Value When Exchanging For Euros
The golden rule when exchanging currencies is simple. You have to see first how much you can get for your money before exchanging it. How to do this quickly and conveniently? Use this link:
The medium of exchange was referred to as the French Franc. What is the symbol for the French Franc? It is denoted as “FF” or “F”. The value of the Euro is set at the equivalent of 6.55957 in terms of Francs. There were some changes that took place after the year 1999 and it was another 2 years before the money was issued again.
Planning To Vacation In France? Heed These Simple Money Tips
Who would have thought that part of the planning stages of the vacation included a visit to your social security officer? But you have to in the case of this country. You have to inquire about a form that has to be filled out. Why? Should you have medical expenses in France, the form will ensure that you will be paid back when you return home to the US. Second tip, is to exchange some dollars to Euros before flying to France.
Will French Establishments Honour American Dollars?
There are a few establishments in France that will honour American Dollars. You may even exchange some of your greenbacks to euros in the establishment itself. Better still, bring your debit or credit card. Mastercard and Visa are widely accepted throughout France. What’s good about using these cards is that you can use them without having to go through the currency exchange process. However, you should be mindful that the smaller stores may not accept credit and debit cards as modes of payment especially if the purchase amount is small.
Do You Have a Portal Currency Converter?
You may have seen a Portal Currency Converter. It is highly portable and resembles a keychain. You can buy it at retail outlets that specialize in travel. It is very important when visiting another country. This handy gadget will readily convert exchange rates for you accurately.
Very Important Tip For Traveling Students
Are you familiar with the International Student Association or ISA program? Read about it. It will greatly reduce travel costs that may come as a result of tuition, housing expenses, and of course, insurance.
- 1 Previous Currency Name & The Name of Currency Today
- 2 Countries That Recognized the Franc During The Time of the French Republic
- 3 What Is The World’s Number One Holiday Vacation Place?
- 4 Tourists Love The Countries Economy
- 5 Why The Economy Is Stable
- 6 What Other Countries Use The Euro?
- 7 How to Get the Best Value When Exchanging For Euros
- 8 Planning To Vacation In France? Heed These Simple Money Tips
- 9 Will French Establishments Honour American Dollars?
- 10 Do You Have a Portal Currency Converter?
- 11 Very Important Tip For Traveling Students