New Hebrides franc
| Unit | |
|---|---|
| Symbol | Fr |
| Denominations | |
| Subunit | |
| 100 | centime |
| Banknotes | 100, 500, 1000 francs |
| Coins | 1, 2, 5, 10, 20, 50, 100 francs |
| Demographics | |
| Date of introduction | 1969 |
| Replaced | CFP franc(at par) |
| Date of withdrawal | 1981 |
| Replaced by | Vanuatu vatu(at par) |
| User(s) |  New Hebrides |
| Issuance | |
| Central bank | Institut d'émission d'Outre-Mer(IEOM) |
| Website | www |
| Valuation | |
| Inflation | - |
| This infobox shows the latest status before this currency was rendered obsolete. | |
Thefrancwas the currency of theAnglo-French Condominiumof the Pacific island group of theNew Hebrides(which becameVanuatuin 1980). It circulated alongside British and later Australian currency. The New Hebrides franc was nominally divided into 100Centimes,although the smallest denomination was the 1 franc. Between 1945 and 1969, it was part of theCFP franc.
History
[edit]UntilWorld War II,the New Hebrides used theFrench francand theBritishandAustralian pounds.In 1941, theFree Frenchforces introduced paper money for circulation on the New Hebrides. In 1945, theCFP francwas introduced to insulate France's Pacific colonies from the devaluation of theFrench francand the New Hebrides used a combination ofNew Caledonian franccoins and locally issued notes.
In 1949, the CFP franc's relationship to the French franc stabilized at 5.5 French francs = 1 CFP franc. From 1959, the exchange rate to theAustralian poundwas almost exactly 200 francs = 1 pound. This rate became 100 francs = 1Australian dollarin 1966 when the dollar was introduced. The Australian dollar circulated alongside the local currency.
From 1966, coins were produced in the name of the New Hebrides. In 1969, the New Hebrides franc broke away from the CFP franc and maintained the relationship with the Australian dollar of 100 francs = 1 dollar until 1973. In 1981, the franc was replaced at par by thevatufollowing independence asVanuatu.The Australian dollar continued to circulate in Vanuatu until 1983.
Coins
[edit]In 1966, silver 100 franc coins were introduced. These were followed by nickel 10 and 20 francs in 1967, nickel-brass 1, 2 and 5 francs in 1970 and nickel 50 francs in 1972. Only the nickel coins (10, 20, and 50 francs) were the same size, composition, and obverse as the correspondingFrench PolynesianandNew Caledonian coins.
The overall design has not changed since the introduction of the New Hebrides franc coins. The only notable change is the addition of "I.E.O.M" (Institut d'émission d'Outre-Mer) in 1973.
Banknotes
[edit]The first New Hebridean banknote was issued in 1921, a 25 franc note of theComptoirs Français des Nouvelles Hébrides(French Trading Posts of the New Hebrides) dated 22 août (August) 1921. This is a very rare note. The New Hebrides began issuing banknotes again in 1941. These were overprints onNew Caledonianbanknotes (issued by theBanque de l'Indochine), in denominations of 5, 20, 100, 500 and 1000 francs. The same denominations were issued in 1943 by theFree FrenchServices Nationaux Français des Nouvelles Hébrides.
In 1965, theInstitut d'Emission d'Outre-Mertook over the issuance of paper money on the New Hebrides and introduced notes in denominations of 100, 500 and 1000 francs between 1965 and 1972. Unlike the French Polynesian and New Caledonian counterparts, New Hebrides never had a 5000 franc note.
See also
[edit]
References
[edit]- Krause, Chester L.; Clifford Mishler (1991).Standard Catalog of World Coins:1801–1991(18th ed.). Krause Publications.ISBN0873411501.
- Pick, Albert (1994).Standard Catalog of World Paper Money:General Issues.Colin R. Bruce II and Neil Shafer (editors) (7th ed.). Krause Publications.ISBN0-87341-207-9.
- Reserve Bank of Vanuatu."Brief History of the Reserve Bank of Vanuatu".Archived fromthe originalon 2009-03-27.Retrieved2007-07-20.
External links
[edit]| Preceded by: CFP franc Ratio:at par Note:circulated with the Australian pound; Australian dollar after 1966 |
Currency ofNew Hebrides(nowVanuatu) 1969 – 1981 |
Succeeded by: Vanuatu vatu Reason:independence Ratio:at par |