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Looking for what the official currency of France is today? The type of money used by the French hasn’t changed since joining the European Union. However there are a lot of other things you need to consider about the type of currency used, read on to find out more…
The original unit was introduced in 1360 and its name was the franc. The value then was equivalent to one livre tournois, which dated back to the Middle Ages. However, in 1803, a new official money was introduced. This French monetary unit and system was known as the Germinal Franc. The current money name in France in 2020 is the Euro using the abbreviation of the € symbol and the currency code EUR. Read on to find out crucial information about the currency & how to transfer money to a france bank account from the US.
US citizens are notorious for their tendency not to travel abroad and more used to using services such as walmart money network to transfer their US dollars within the country. When travelling relying on currency exchanges online and at high street currency exchange companies. Have a look at these americans asking themselves what currency does France use and their interpretations of the type of money coins, notes (or as US call bills), units and different denominations used in Europe by Americans:
Long before the Euro this currency for France was introduced by the Latin Monetary Union. Unfortunately, after the first World War they moved to a sub-currency known as the German Reichsmark. This enabled them to join the Brent Woods monetary system. However, the French Franc came into play in 1960 as a result of a loss of value of the previous currencies which was used into the 1700’s.
Old Money Name & France Currency Name Today
The old french money called the franc – is also a major world currency in the form of CFP (collectivités d’outre-mer, or otherwise known as COM). It should also be noted that they were one of the first countries to start using Euro along with the traditional type currency of France in 2002. The France currency remains the euro to this day in 2020.
The French Republic: What other countries are using franc monetary unit?
In addition to mainland France, the French Republic includes the Mediterranean island of Corsica and eight overseas territories. Those territories are former French colonies whose people have elected to keep their citizenship. Except for one, French Guiana on the northeast coast of South America, they all consist of small islands and island chains. They include Guadeloupe and Martinique, in the West Indies; Réunion and Mayotte, in the Indian Ocean; New Caledonia and the Wallis and Futuna Islands, in the South Pacific; and Saint Pierre and Miquelon, off the coast of Canada. This is why, the currency in France before the Euro – Franc shares its name with many currencies in adjoining countries and its what currency that the country uses.
The countries that use Currency of Franceare mainly Francophone countries of Africa and Switzerland and Liechtenstein. For many centuries, France reigned as the cultural center of the Western world. During the late Middle Ages and into the Renaissance, educated people throughout Europe learned to speak French. They quoted old French philosophers and novelists. And, if they could afford to do so, traveled to Paris to visit its museums and libraries. Today’s France, especially the capital city of Paris, remains a world center of art, architecture, high fashion, gourmet food, and stylish living.
France Named No1 Holiday Destination
Many parts of the country lay in ruins following World War II. But the nation rebuilt itself quickly. Today, it is a leading European power in the realms of business, military defense, and science. It also remains Europe’s favorite vacation land and the world’s leading tourist destination.The defeat of Western Europe by France, in earlier times, led to the wide circulation of Currency of France.
Free economy good for tourists
Remarkably, the country has a moderate kind of free economy, which makes it among the biggest economies in the world. France decided to join the Great Eight groups of countries which are focused on strengthening their economy. The economy is attributed to agricultural growth and building using industries. This has allowed there to be a lot of the job market, hence reduce unemployment cases. Moreover, it enables many people to be employed in the tourism industry, hence making France be the best tourist destination in the World. Amazingly, there’s a 9.6% unemployment rate in France, unlike in many nations that have a higher unemployment rate.
Furthermore, other industries such as automobiles and food processing have enabled them to maintain a stable economy. This is as a result of its diversification in that the failure of one sector of the economy would not lead to its collapse since the country has multiple channels to get cash inflow. Arguably, France also depends heavily on the importation of products such as crude oil and chemical.
Euro currency locations: Countries that use the Euro
The Euro is the most used kind of currency in Europe with an exception of the United Kingdom, Denmark and Czech Republic. The name Euro is symbolized by the € sign. The Euro is divided into several denominations that are 2 and 1 in coin denominations and several cents. Notably, each member state has decorated their own coins for the purpose of differentiation, but this does not mean coins cannot be used in different official European nations.
The currency used of exchange was called French Franc. The unit symbol for the Franc was an F or FF. 1 Euro is equated to 6.55957 Francs. However, there was a dramatic change after 1999. Arguably, it took 2 more years before it circulated throughout the country.
Money tips before going to France
If you wish to go to France, there are a couple of things you may need to be aware of. Firstly, you may need to ask your social security officer a form which you fill. This form is very important because in any case you incur medical cost you will be repaid when you return back to the United States.Secondly, you may need to change your currency so that you are able to use Euros in France.
Dollars accepted in certain locations
Keep in mind that Dollars may be accepted in some places where you can pay using Dollars and they get a chance to exchange the rate right there. This is not so in many developed places in the country. However, many places in France accepted Visa and MasterCards and so if you may have one, no need to worry because you are allowed to use it without changing the currency as long as it’s on your visa or MasterCard. However, this may not be completely possible as you may require some cash. Furthermore, some small retail outlets in France do not accept the use of Visa or Mastercard to pay for small denominations.
Using a keychain currency converter
Arguably, it is important to note that you may need a portal, currency converter if you are planning to go to France. This converter usually looks like a keychain. It may be found in travel stores and may come in handy whenever you are travelling to different countries in the world. Most importantly, the conversion gadgets help you know the exact exchange rates, hence give you accurate exchange rate figures. This is very handy.
If you are paying for Euro car rental in France you are better off paying in USD and using an international car rental firm such as Avis, Budget or Hertz. There are lots of options for spending whilst you are in France the cheapest would be to get a great rate on euros to cash before you leave. This has inherent risks though so if you want security whilst getting a good exchange rate I would highly recommend using Revolut. If you understand markets you can trade usd to euro with a service such as Oanda. Cryptocurrencies such as Ether are starting to be accepted but adoption is slow so not really an option while travelling.