Countries that Use the Franc 2022

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What Is the Franc?

The franc is a unity of currency that was used around the world at one point. There are different variations of the franc, including the Swiss franc and the French franc. Although the franc was widely used, today, it has largely been replaced by the Euro in many places in Western Europe. Many former colonies of both Belgium and France continue to use some variation of the franc.

The franc got its name from the Latin inscription francorum rex, which translates to "King of the Franks," alluding to France's historical past. The franc is an easy form of money to use, with one franc divided into 100 centimes.

What Countries Use the Franc Currently?

Today, many Western European countries that once used the franc have since switched to the standardized Euro found throughout most of Europe. Currently, 22 countries and three territories use a unit of currency directly denominated in francs. Of the 22 countries using the franc, 20 are located in Africa, and the three territories are part of the French Republic. Territories currently using the franc include French Polynesia, New Caledonia, and Wallis and Futuna. These territories use the CFP franc, compared to the standard CFA franc that is commonly found throughout Africa.

There are two different versions of the African franc, with 14 countries using the CFA and six African countries using their own version of the franc, which are directly tied to the French franc. The CFA franc was introduced in the African countries in 1945 and has been in circulation ever since. The CFP and the CFA franc can be interchanged with the standard franc used elsewhere.

African countries that still use the franc include Cameroon, Chad, the Republic of Congo, Equatorial Guinea, Gabon, the Democratic Republic of the Congo, Comoros, Djibouti, Guinea, Rwanda, Benin, Burkina Faso, Cote d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal, and Togo.

What European Countries Use the Franc?

Although the Euro has largely replaced the franc, two European countries still use the franc. Both Switzerland and Liechtenstein will use the franc as their official currency. While the franc is undoubtedly preferred, most places in Switzerland and Liechtenstein will still take Euros and be happy to conduct business in this widely accepted currency. Although most of Europe is quickly transitioning to the standard Euro, both Switzerland and Liechtenstein do not have any plans to replace the franc with the Euro in the future.

Countries that Use the Franc 2022

Countries that Use the Franc 2022