The currency of French Polynesia is the Pacific Financial Community franc, known in French as the Comptoirs Français du Pacifique franc (CFPF). The CFPF is pegged at a fixed rate to the French franc (18.18 CFPFs = 1 French franc), and, through it, to the euro. Initiated in 1945, the CFPF is also used by France's 2 other Pacific possessions, New Caledonia and Wallis and Futuna. In 1967, responsibility for issuing and circulating this currency was transferred from the Banque d'Indochine to the French government. Exchange rates have affected the tourism sector most; prices have generally been high in the islands, and during periods in which currencies
|Exchange rates: French Polynesia|
|Comptoirs Français du Pacifique francs per US$1|
|Note: Pegged at the rate of 119.25 CFPF to the euro.|
|SOURCE: CIA World Factbook 2001 [ONLINE].|
such as the U.S. dollar have weakened, so has tourism. The reverse is true as well, with tourism increasing as foreign currencies grew stronger against the CFPF.