Comorian franc

Comorian Franc

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Comorian franc

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Description:
The franc (; ) (ISO 4217 currency code KMF) is the official currency of Comoros. It is nominally subdivided into 100 centimes, although no centime denominations have ever been issued.

History

The French franc became the currency of Comoros after the islands became a French protectorate in 1886. In 1891, Sultan Said Ali of Bambao, Ngazidja issued coins denominated in centimes and francs which circulated alongside French currency. In 1912, the Comoros became a province of Madagascar, which was a French possession. French banknotes and coins circulated in the colony. Apart from an emergency issue of small change notes in 1920, the French currency circulated alone until 1925.

On 1 July 1925, the French government formed an with the Banque de Paris et des Pays-Bas to create the Banque de Madagascar, headquartered in Paris, and granted it a private monopoly to issue currency for the colony of Madagascar. The Malagasy franc (French: franc malgache) was equivalent to the French franc and French coins continued to circulate as Madagascar had no coins of its own until 1943.

When the Comoros became a separate French territory in 1945, the name of the issuing bank was changed to the Banque de Madagascar et des Comores (still headquartered in Paris). A branch office opened in Comoros in 1953. While the banknotes were changed to reflect the new status of Comoros, the coins were not changed and bore only the name Madagascar. On 26 December 1945, the Madagascar-Comores CFA franc was...
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