Introduced in 1945, the CFP franc is the currency of the French Overseas Collectivities of French Polynesia, New Caledonia, Wallis and Futuna. These territories are remote islands in the Pacific that are administrative divisions of France.
CFP today stands for ‘Change Franc Pacifique’ (Pacific Franc Exchange), after it was changed from the original meaning ‘Colonies Françaises du Pacifique’ (French colonies of the Pacifique). The ISO currency code is XPF and symbol ₣.
The CFP franc is issued by the Paris-based Institut d’Émission d’Outre Mer (IEOM). The currency is pegged to the Euro at a fixed rate of €8.38 euro per 1,000 CFP francs.