CFP Franc - XPF

AAA

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").

INVESTOPEDIA EXPLAINS 'CFP Franc - XPF'

Along with the CFA franc, the CFP franc was introduced following the second world war as a means of combating the weak French franc and the possibility of currency devaluation once the franc was pegged to the dollar. After France changed its currency to the euro, the CFP franc became pegged to the euro. It's normally called the franc in everyday use.

RELATED TERMS
  1. Deutschmark

    The official currency of Germany until Germany's adoption of ...
  2. Forex - FX

    The market in which currencies are traded. The forex market is ...
  3. Euro

    The official currency of the European Union's (EU) member states. ...
  4. CHF (Swiss Franc)

    The currency abbreviation for the Swiss franc (CHF), the currency ...
  5. WM/Reuters Benchmark Rates

    Spot and forward foreign exchange rates that are used as standard ...
  6. Bitcoin Mining

    Bitcoin mining is the process by which transactions are verified ...
Related Articles
  1. Forex Education

    Currency Exchange: Floating Rate Vs. ...

  2. Fundamental Analysis

    An Evaluation Of Emerging Markets

  3. Forex Education

    The Pros And Cons Of A Pegged Exchange ...

  4. Forex Education

    The New World Of Emerging Market Currencies

Hot Definitions
  1. Capitulation

    When investors give up any previous gains in stock price by selling equities in an effort to get out of the market and into ...
  2. Turkey

    Slang for an investment that yields disappointing results or turns out worse than expected. Failed business deals, securities ...
  3. Conduit Issuer

    An organization, usually a government agency, that issues municipal securities to raise capital for revenue-generating projects ...
  4. Financing Entity

    The party in a financing arrangement that provides money, property, or another asset to an intermediate entity or financed ...
  5. Hyperinflation

    Extremely rapid or out of control inflation. There is no precise numerical definition to hyperinflation. Hyperinflation is ...
  6. Gross Rate Of Return

    The total rate of return on an investment before the deduction of any fees or expenses. The gross rate of return is quoted ...
Trading Center