Réunion franc
Encyclopedia
The franc was the currency of Réunion
until 2002. Before 1973, Réunion had its own franc, distinct from that of France. After 1973, the French franc
circulated. Réunion now uses the euro
. The Réunion franc was subdivided into 100 centime
s.
was created and was adopted in Réunion, with distinct coins introduced in 1948. Although Réunion's paper money was stamped with the equivalent value in new francs from 1960, the new franc did not replace the Réunion franc until 1973, when French currency replaced Réunion's at a rate of 1 French (new) franc = 50 Réunion (CFA) francs.
In 1948, aluminium 1 and 2 francs coins were introduced, followed, in 1955, by aluminium 5 francs and aluminium-bronze 10 and 20 francs. Nickel 50 and 100 francs were introduced in 1962 and 1964. All denominations were issued until 1973.
In 1917, the Banque de la Réunion issued emergency small change notes for 5 and 10 centimes. The Bank introduced 1000 francs notes in 1937 and 5000 francs in 1940. During the Second World War, the Bank issued 50 centimes, 1 and 2 francs notes, first under the auspices of Vichy France
, then of the Free French. The Banque de la Réunion ceased note issuing in 1944.
In 1943, the Caisse Centrale de la France Libre (Central Cashier of Free France) issued 5, 100 and 1000 francs notes of the same type as issued in French Equatorial Africa
for use in Réunion. In 1944, the Caisse Centrale de la France d'Outre Mer (Central Cashier of Overseas France) issued 100 and 1000 francs notes in the same way. In 1947, the Caisse Centrale de la France d'Outre-Mer issued French Equatorial African notes for 5, 10, 20, 50, 100, 500, 1000 and 5000 francs overprinted with "La Réunion".
In 1962, the Institut d'Émission des Départements d'Outre-Mer took over paper money issue, with notes for 100, 500, 1000 and 500 francs, overprinted with either "La Réunion" or "Département de la Réunion". In 1960, 500 1000 and 5000 francs notes were issued overprinted with the denomination in new francs (10, 20 and 100 nouveaux francs).
Réunion
Réunion is a French island with a population of about 800,000 located in the Indian Ocean, east of Madagascar, about south west of Mauritius, the nearest island.Administratively, Réunion is one of the overseas departments of France...
until 2002. Before 1973, Réunion had its own franc, distinct from that of France. After 1973, the French franc
French franc
The franc was a currency of France. Along with the Spanish peseta, it was also a de facto currency used in Andorra . Between 1360 and 1641, it was the name of coins worth 1 livre tournois and it remained in common parlance as a term for this amount of money...
circulated. Réunion now uses the euro
Euro
The euro is the official currency of the eurozone: 17 of the 27 member states of the European Union. It is also the currency used by the Institutions of the European Union. The eurozone consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg,...
. The Réunion franc was subdivided into 100 centime
Centime
Centime is French for "cent", and is used in English as the name of the fraction currency in several Francophone countries ....
s.
History
The French franc circulated on Réunion alone (except for a single coin issue) until 1874, when distinct issues of currency commenced. Initially, notes of the Banque de la Réunion and the Colonial Treasury circulated alongside French currency. In 1896, coins were issued, followed by bank tokens in 1920. In 1945, the CFA francCFA franc
The CFA franc is the name of two currencies used in Africa which are guaranteed by the French treasury. The two CFA franc currencies are the West African CFA franc and the Central African CFA franc...
was created and was adopted in Réunion, with distinct coins introduced in 1948. Although Réunion's paper money was stamped with the equivalent value in new francs from 1960, the new franc did not replace the Réunion franc until 1973, when French currency replaced Réunion's at a rate of 1 French (new) franc = 50 Réunion (CFA) francs.
Coins
In 1816, billon 10 centimes were struck in the name of the Isle de Bourbon (as Réunion was then known). In 1896, cupro-nickel 50 centimes and 1 franc coins were issued. In 1920, aluminium 5, 10 and 25 centime bank tokens were issued, which circulated until 1941.In 1948, aluminium 1 and 2 francs coins were introduced, followed, in 1955, by aluminium 5 francs and aluminium-bronze 10 and 20 francs. Nickel 50 and 100 francs were introduced in 1962 and 1964. All denominations were issued until 1973.
Banknotes
The Banque de la Réunion introduced notes for 5, 10, 25, 100 and 500 francs between 1873 and 1876. Between 1884 and 1886, the Colonial Treasury (Trésor Colonial) issued notes for 50 centimes, 1, 2 and 3 francs.In 1917, the Banque de la Réunion issued emergency small change notes for 5 and 10 centimes. The Bank introduced 1000 francs notes in 1937 and 5000 francs in 1940. During the Second World War, the Bank issued 50 centimes, 1 and 2 francs notes, first under the auspices of Vichy France
Vichy France
Vichy France, Vichy Regime, or Vichy Government, are common terms used to describe the government of France that collaborated with the Axis powers from July 1940 to August 1944. This government succeeded the Third Republic and preceded the Provisional Government of the French Republic...
, then of the Free French. The Banque de la Réunion ceased note issuing in 1944.
In 1943, the Caisse Centrale de la France Libre (Central Cashier of Free France) issued 5, 100 and 1000 francs notes of the same type as issued in French Equatorial Africa
French Equatorial Africa
French Equatorial Africa or the AEF was the federation of French colonial possessions in Middle Africa, extending northwards from the Congo River to the Sahara Desert.-History:...
for use in Réunion. In 1944, the Caisse Centrale de la France d'Outre Mer (Central Cashier of Overseas France) issued 100 and 1000 francs notes in the same way. In 1947, the Caisse Centrale de la France d'Outre-Mer issued French Equatorial African notes for 5, 10, 20, 50, 100, 500, 1000 and 5000 francs overprinted with "La Réunion".
In 1962, the Institut d'Émission des Départements d'Outre-Mer took over paper money issue, with notes for 100, 500, 1000 and 500 francs, overprinted with either "La Réunion" or "Département de la Réunion". In 1960, 500 1000 and 5000 francs notes were issued overprinted with the denomination in new francs (10, 20 and 100 nouveaux francs).