New Hebrides franc facts for kids
Quick facts for kids New Hebrides franc |
|
|---|---|
| User(s) |  New Hebrides |
| Inflation | - |
| Subunit | |
| 100 | centime |
| Symbol | Fr |
| Coins | 1, 2, 5, 10, 20, 50, 100 francs |
| Banknotes | 100, 500, 1000 francs |
The franc was the money used in the New Hebrides, a group of islands in the Pacific Ocean. These islands were once ruled by both France and Britain together. Today, the New Hebrides is known as Vanuatu.
The franc was used alongside British and later Australian money. Even though it was officially divided into 100 Centimes, the smallest coin was 1 franc. From 1945 to 1969, the New Hebrides franc was part of a larger currency system called the CFP franc.
Contents
A Look Back: History of the Franc
Before World War II, people in the New Hebrides used the French franc and money from Britain and Australia. In 1941, during the war, a group called the Free French started printing their own paper money for the islands.
In 1945, the CFP franc was created. This was done to protect France's Pacific colonies from changes in the value of the French franc. So, the New Hebrides began using a mix of coins from New Caledonia and special local banknotes.
Changing Money Values
By 1949, the CFP franc's value became stable. One CFP franc was worth 5.5 French francs. From 1959, the exchange rate to the Australian pound was about 200 francs for 1 pound.
When Australia introduced the Australian dollar in 1966, the rate changed. Now, 100 francs were worth 1 Australian dollar. The Australian dollar was also used on the islands alongside the local franc.
New Hebrides Gets Its Own Coins
Starting in 1966, coins were made specifically for the New Hebrides. In 1969, the New Hebrides franc became its own currency, separate from the CFP franc. It kept its value against the Australian dollar (100 francs = 1 dollar) until 1973.
After the New Hebrides became the independent nation of Vanuatu in 1980, the franc was replaced. In 1981, the vatu became the new money, with 1 vatu being worth 1 franc. The Australian dollar continued to be used in Vanuatu until 1983.
Coins of the New Hebrides Franc
The first coins for the New Hebrides franc were silver 100 franc coins, introduced in 1966.
- In 1967, nickel coins for 10 and 20 francs were added.
- In 1970, bronze coins for 1, 2, and 5 francs came out.
- Finally, nickel 50 franc coins were introduced in 1972.
The nickel coins (10, 20, and 50 francs) were similar in size and material to coins used in French Polynesia and New Caledonia. The overall look of the New Hebrides franc coins stayed the same over time. The only small change was adding "I.E.O.M" (which stands for Institut d'émission d'Outre-Mer) in 1973. This was the bank that issued the money.
Banknotes of the New Hebrides Franc
The very first banknote for the New Hebrides was a 25 franc note. It was issued in 1921 by the Comptoirs Français des Nouvelles Hébrides (French Trading Posts of the New Hebrides). This note is very rare today.
The New Hebrides started issuing banknotes again in 1941. These were actually New Caledonian banknotes that had been stamped with an overprint. They were issued by the Banque de l'Indochine in values of 5, 20, 100, 500, and 1000 francs. The same amounts were issued in 1943 by the Free French Services Nationaux Français des Nouvelles Hébrides.
In 1965, the Institut d'Emission d'Outre-Mer (IEOM) took over printing paper money for the New Hebrides. Between 1965 and 1972, they issued notes for 100, 500, and 1000 francs. Unlike French Polynesia and New Caledonia, the New Hebrides never had a 5000 franc banknote.
See also
- CFP franc
- New Caledonian franc
- French Polynesian franc
