The CFP franc is the official currency of French Polynesia, New Caledonia and Wallis and Futuna. The official currency symbol: F. The initials CFP referred to Change franc Pacifique (Pacific Franc Exchange).
In December 1945, the CFP franc was introduced, along with the CFA franc, which is used in Africa. The fragility of the French franc immediately after WWII was the impetus for the introduction of these francs. The French franc was depreciated to set a fixed exchange rate with the US dollar when France signed the Bretton Woods Agreement in December 1945. To avoid the severe devaluation of December 1945, new currencies were introduced throughout the French colonies. The CFP franc, on the other hand, was pegged to the US dollar, which played a significant role in the economy of the French Pacific possessions during World War II. Then in 1949 when the CFP franc was given a fixed exchange rate with the French franc.
Since 1967, the IEOM (Institut d’émission d’outre-mer, ‘Overseas Issuing Institute’) has issued the CFP franc. The IEOM’s headquarters are in Paris. The IEOM introduced the first banknotes in 1965. Today are circulating banknotes in denominations of 500, 1000, 5000 and 10,000 CFP francs.
The 500 CFP francs note front design features Caledonian motifs, the bird of paradise flower, a taro leaf, Wallisian (Wallis and Futuna Islands) and Futurian motifs followed by tapa, kava leaves, papaya leaf and its fruit, siapo.
The reverse of the note illustrates Polynesian motifs, the tiare and frangipani flowers, sprouted coconut, Wallisian (Wallis and Futuna Islands) and Futurian motifs followed by tapa, kava leaves, papaya leaf and its fruit, siapo. The lettering of the note is presented in the French language. This note is part of the 2014 series, and its color is green, orange, and yellow on a multicolor underprint.
Text: REPUBLIQUE FRANÇAISE INSTITUT D’ÉMISSION D’OUTRE-MER 500 CINQ CENTS FRANCS CFP, INSTITUT D’ÉMISSION D’OUTRE-MER 500 CINQ CENTS FRANCS CFP REPUBLIQUE FRANÇAISE