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FRANCE (1960-2002) French franc reformed [FRF]

1 franc = 100 centimes

On January 1, 1960 the new French franc [FRF] has replaced the old [FRG] in ratio of 1 FRF for 100 FRG. The Gold Standard was converted from old francs FRG and equaled to 180 milligrams gold for franc FRF. Old aluminum coins with face values 1 and 2 francs remained in circulation and were functioning as coins of 1 and 2 centimes. The new franc was a relatively strong European currency pegged to the system of Bretton Woods and then from 1971 to a basket of currency [XDR], but its value was dropping until the '80s. In 1969, franc was devalued to 160 milligrams of gold, and then multiple times in the years 1982, 1983, 1984 and 1986. At the time of the replacement of franc FRF for the euro on January 1, 1999, franc was worth one-eighth of the franc from the moment of the 1960 reform.

last update: 20 XI 2013

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