Definition of 'CFP Franc - XPF'
The currency of four French overseas collectivities that include French Polynesia, New Caledonia, Wallis and Futuna. The CFP franc is issued by the Paris-based Institut d'émission d'Outre-Mer (IEOM), and can also be referred to as the franc pacifique since it is used in the Pacific Ocean region. The franc is broken into subunits called centimes.
CFP stands for Comptoirs Français du Pacifique ("French Pacific Banking Agreement").
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