The CFP Franc, also known as the Comptoirs Français du Pacifique Franc, serves as the official currency in several French territories in the South Pacific, including Tahiti and New Caledonia.

The CFP is essential for anyone visiting these stunning islands, whether you’re shopping at local markets or enjoying beautiful beaches. 

Let’s look more into the CFPs, including their history, banknotes, coins, and tips for using the currency effectively during your trip.

What is Comptoirs Francais Du Pacifique Franc

The Comptoirs Français du Pacifique Franc (CFP Franc) is the official currency used in several French overseas territories in the Pacific, French Polynesia, New Caledonia, and Wallis and Futuna. It’s also called the CFP Franc (XPF).

The CFP Franc is issued and managed by the Institut d’Émission d’Outre-Mer (IEOM), which serves as the central bank for these territories. 

The institution is responsible for regulating the currency and ensuring its stability within the regions it serves.

People use the it for everyday transactions, including purchasing food, clothing, and services like transportation and accommodation. It is essential for daily life in these territories.

The symbol for the CFP Franc is “CFP” or “XPF.” When you see prices in these territories, they will be in CFP Francs unless otherwise stated. 

For example, if an item costs 1,000 XPF, that’s how it appears.

CFP Franc’s Fixed Exchange Rate

It is pegged to the Euro at a fixed rate. The exchange rate stands at 1 Euro = 119.33 XPF.

This keeps its value stable against the Euro, offering predictability for trade and investments within the French overseas territories.

Exchange Rates of CFP Franc (XPF) with Other Currencies

Its value can fluctuate based on economic conditions and international markets. Check below for the current rate.

1. CFP Franc (XPF) to Euro (EUR)

1 XPF = 0.0084 EUR

2. CFP Franc (XPF) to US Dollar (USD)

1 XPF = 0.011 USD

3. CFP Franc (XPF) to British Pound (GBP)

1 XPF = 0.0073 GBP

4. CFP Franc (XPF) to Australian Dollar (AUD)

1 XPF = 0.016 AUD

5. CFP Franc (XPF) to Nigerian Naira (NGN)

1 XPF = 7.38 NGN

History of the CFP Franc

It was introduced in 1945, replacing the French Pacific Franc (FPF). The decision aimed to provide a stable currency for the territories after World War II.

The CFP Franc was pegged to the French Franc at a fixed exchange rate, ensuring stability in the region’s economy.

In 1999, it became tied to the Euro when France adopted the Euro as its currency. 

The fixed exchange rate system helped stabilize the currency and the economy of the territories, allowing for predictable pricing and trade.

Banknotes of the CFP Franc

They come in several banknote denominations, each featuring distinct colors, designs, and local imagery.

• 500 XPF: This is the smallest denomination, typically green. It features a depiction of a traditional Polynesian canoe, highlighting the maritime culture of the region. The size of this banknote is 150 x 70 mm.
• 1,000 XPF: The 1,000 XPF banknote is blue and portrays a representation of local flora and fauna, emphasizing the natural beauty of the islands. Its dimensions are 150 x 70 mm.
• 5,000 XPF: This banknote is purple and features an image of a famous cultural figure or traditional art from the territories, showcasing the rich heritage. It measures 155 x 75 mm.
• 10,000 XPF: The largest banknote, colored orange, showcases an important historical site or event, reflecting the territory’s unique history. The dimensions of this note are 155 x 75 mm.

Coins of the CFP Franc

They also include various coins for making smaller purchases or giving change.

• 1 XPF: A small coin often made of aluminum, used for basic transactions.
• 2 XPF: A slightly larger coin, typically made of nickel-plated steel, used in everyday purchases.
• 5 XPF: This coin is often made from a mix of metals and is used for small transactions.
• 10 XPF: A larger coin commonly used for everyday purchases, often made of bimetal.
• 20 XPF: This bimetal coin is also popular for regular transactions.
• 50 XPF: Another bimetal coin that is commonly used, especially for small purchases.

Conclusion

The Comptoirs Français du Pacifique Franc is the official currency of the French overseas collectivities, French Polynesia, New Caledonia, and Wallis and Futuna.

The Institut d’Emission d’Outre-Mer manages this currency, which is pegged to the Euro at a fixed exchange rate. This peg helps maintain stability against changes in foreign exchange rates.

They divide it into centimeters and mint it in various banknotes and coins.

The economies of the territories that use it are small and rely heavily on trade with France and the European Union. Tourism, agriculture, fishing, and mining are the main sectors driving their economies.