French Franc
The French franc was the name of a gold coin issued in France from 1360 until 1380, then a silver coin issued between 1575 and 1641. The franc finally became the national currency from 1795 until 1999 (franc coins and notes were legal tender until 2002). Though abolished as a legal coin by Louis XIII in 1641 in favor of the gold louis and silver écu, the term franc continued to be used in common parlance for the livre tournois. The franc was also minted for many of the former French colonies, such as Morocco, Algeria, French West Africa, and others. Today, after independence, many of these countries continue to use the franc as their standard denomination.
The value of the French franc was locked to the euro at 1 euro = 6.55957 FRF on 31 December 1998, and after the introduction of the euro notes and coins, ceased to be legal tender after 28 February 2002 (although still exchangeable at banks). However, French francs are no longer exchangeable since 19 February 2012.
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Famous quotes containing the word french:
“The German intellect wants the French sprightliness, the fine practical understanding of the English, and the American adventure; but it has a certain probity, which never rests in a superficial performance, but asks steadily, To what end? A German public asks for a controlling sincerity.”
—Ralph Waldo Emerson (1803–1882)