French Polynesian franc

French Polynesian franc
The franc is the currency of French Polynesia, part of the CFP franc since 1945 and issued by the Institut d'émission d'outre-mer (IEOM) in Paris. It is subdivided into 100 centimes, although centime denominations are no longer in circulation.
History
Until 1914, the French franc circulated in French Polynesia. That year, banknotes were issued specifically for use on in the colony which circulated along with French coins. In 1945, the CFP franc was introduced, with coins issued for French Oceania (as the colony was then known) from 1949. From 1965, the name (French Polynesia) was used. The CFP franc is also issued in New Caledonia, and was used in the New Hebrides until 1982 after its 1980 re-establishment as the Republic of Vanuatu. Since 1985, CFP franc banknotes have been issued common to both French Polynesia and New Caledonia, although separate coinages continued until they were replaced with a single common set of CFP franc coins in 2023.
Coins
In 1949, aluminium coins in 50 centime, 1 and 2 franc denominations bearing the former colonial name were introduced, followed by aluminium 5 franc coins in 1952. The 50 centime coin was only reissued once, in 1965. In the same year, all denominations were reissued with the wording changed to . In 1967, nickel 10, 20 and 50 franc coins were introduced, followed by nickel-bronze 100 franc coins in 1976.
The overall design of the French Polynesia coins did not change from their introduction until their withdrawal in 2023. The obverse, identical to that of the New Caledonian coins, included the words and depicted an allegorical representation of Minerva the goddess of wisdom on the 1, 2, and 5 franc coins, or Marianne, symbol of the French Republic, on the higher denominations. The only changes were the removal of the text "Union Française" on 1, 2, and 5 franc coins from 1965, and the addition of the issuer initials "I.E.O.M" (Institut d'émission d'outre-mer) after 1972. On the reverse, the wording changed in 1965 from Établissements français de l'Océanie to Polynésie Française.
In September 2021 the IEOM issued a single set of smaller CFP franc coins common to all French Pacific Territories, to replace the two sets of coins used separately for New Caledonia and French Polynesia. The 1 and 2 franc coins were discontinued, and a new bimetallic 200 franc coin was issued. The old coins were withdrawn from circulation in January 2023.
Banknotes
In 1914, the Banque de l'Indochine in Papeete (the capital of French Polynesia on Tahiti) introduced notes for 5, 20 and 100 francs. In 1919, the Chamber of Commerce introduced notes for 25 and 50 centimes, 1 and 2 francs. The Banque André Krajewski also issued notes for these denominations in 1920. The Banque de l'Indochine introduced 500 franc notes in 1923, followed by 1000 francs in 1940.
Wartime emergency currency was issued during both World War I and World War II in denominations ranging from 25 centimes to 2½ francs. The illustrated notes (right) are from the 1943 issue of Bons de Caisse des Etablissements Français de l'Océanie.
In 1969, the Institut d'Emission d'Outre-Mer, Papeete took over the issuance of paper money, introducing notes for 100, 500, 1000 and 5000 francs. The 100 and 1000 franc notes have two variants. The earlier issue lacked the state title "République française". The 500 and 5000 franc notes have had the state title since their introductions. The 100 franc notes were replaced by coins in 1976.
In 1985, 10,000 franc notes common to all the French Pacific Territories were introduced. These were followed, between 1992 and 1996, by 500, 1000 and 5000 franc notes for all of the French Pacific Territories.
In early 2014, the IEOM issued a new series of common banknotes, and the older notes were withdrawn from circulation later that year.
See also
CFP franc
New Caledonian franc
New Hebrides franc
References
Notes
Sources
External links
Currencies of Oceania
Fixed exchange rate