French monetary system. What is the currency in France? Money of France French currency exchange rate to ruble

France is an independent country that, along with other countries, is part of the Eurozone. Because of this union, euros are currently in circulation in France. Which monetary units have been involved in the country before?

History of French money

Until 2002 in economic turnover French Republic there was a franc. Since the 16th century, such money has been issued in the form of gold coins. Since 1795, francs have acquired a banknote denomination.

Since the franc during its circulation period consisted of a decimal system, other countries, following the example of France, switched to the same monetary system.

At one time, one franc consisted of ten decimes, and these, in turn, were divided into 100 centimes. In 1939, this currency began to form its own zone of influence. This is how a monetary union of 17 states was formed, where the franc became the main monetary unit. With France's transition to the euro, all countries of the union began to use this currency instead of the franc.

French Euro today

It is well known that euro banknotes of different denominations are the same in all states of the union. However, each country retains the right to mint its own coins, which, by the way, are accepted for payment in other EU countries.

So on the back of the euro cents you can see Marianne’s face. This woman is considered a symbol of France. The image of the collective image of Marianne has existed in the French state since the revolution of 1792.

Marianne is depicted on the 1, 2 and 5 euro cents. Larger denomination coins feature the image of the sower, which also became popular in France during World War II.

The front side of the euro cents has a tree engraved on it, and you can also see the letters “R” and “F” there. These letters are interpreted as “Republic of France”.

Subtleties of French money

The republic's banks are open from 10 am to 5 pm. Exchangers work an hour longer. The exchange rate in France for tourists from the Russian Federation is not at all profitable. It’s worth taking euros with you from Russia, or finding an exchange office in France with the inscription “nocommission”.

When entering the country, you must declare the following:

Amount over 10 thousand dollars;
Bills of exchange;
Securities;
Stock;
Traveler's checks.

You can pay by card in France almost everywhere, except for small spontaneous markets. The ideal situation with money would be when there are euros on the card, otherwise the tourist could lose a lot of money on commissions.

You can travel to the country with any type of card. The main thing is that the card is new, since with old cards there may be problems when paying, because they have a magnetic strip that many new banking devices cannot read.

The euro (currency symbol: €; bank code: EUR) is the official currency of the countries of the European Union (EU), is in circulation in 15 states known as the “Eurozone” (Austria, Belgium, Cyprus, Finland, France, Germany, Greece , Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovenia, Spain). The euro is also used in 9 other countries, 7 of which are in Europe. It is thus the common currency of more than 320 million Europeans. Considering territories that use euro-linked currencies, almost 500 million people around the world depend on the euro. With a turnover of 610 billion euros since December 2006, the euro is the currency with the largest total amount of currency in global circulation, even ahead of the US dollar.

In 1999, the euro was offered to global financial markets as a currency of account, and on January 1, 2002, banknotes and coins were put into circulation. The Euro replaced the previous European Currency Unit (ECU) at a one-to-one ratio.

Based in Frankfurt, the European Central Bank (ECB) and the Eurosystem (composed of the central banks of the Eurozone countries) oversee and manage all operations in the euro. As an independent central bank, the ECB has exclusive power to set monetary policy. The Eurosystem is involved in the issuance of banknotes and coins, as well as their distribution across all countries, and in the operation of the Eurozone settlement systems.

Although all European Union (EU) countries can be admitted to the Eurozone if they agree to certain monetary requirements, not all EU members have chosen to accept the currency. All states that joined the EU before the Maastricht Treaty came into force in 1993 committed to accept the euro according to the exchange rate.

This treaty obliged existing members to introduce the euro into circulation; however, Great Britain and Denmark achieved the abolition of this requirement for themselves.

Sweden refused to adopt the euro following a 2003 referendum and bypassed the requirement to adopt the euro by not supporting this membership criterion. In addition, three microstates of Europe (Vatican City, Monaco and San Marino), although members of the European Union, have adopted the euro as the single currency of the participating countries. Andorra, Montenegro and Kosovo adopted the euro unilaterally, although they were also not members of the EU.

Coins

The euro is made up of 100 cents (sometimes called Euro cents, especially to distinguish them from US cents or former currency in a particular country). All euro coins in circulation (including €2 commemorative coins) have the same denomination (value) side, indicating the first 15 EU countries. From 2007 or 2008 (depending on the country that issued the coin), this "old" map will be replaced by a map of Europe, which shows countries outside the EU, such as Norway. The coins also have a national side, with a special image chosen by the country that issued the coin. Euro coins from any country can be freely used in all countries that have adopted the euro.

Euro coins are issued in denominations of €2, €1, €0.50, €0.20, €0.10, €0.05, €0.02, and €0.01. In the Netherlands and Finland, by law, all cash transactions are rounded to the nearest five cents to avoid the use of €0.02, and €0.01 (See also the linguistics article on the euro.)

The €2 commemorative coins were issued with changes to the design of the national side of the coin in connection with the Summer Olympic Games in Greece. These two euro coins are legal tender throughout the Eurozone. Coins of other denominations were also issued, but were not intended for widespread circulation. Coins issued later can only be legally used in the country of origin.

Germany

Greece

Italy

Spain

Cyprus

France

Netherlands

Portugal

Austria

Ireland

Belgium

San Marino

Slovenia

Luxembourg

Malta

Monaco

Vatican

Finland

Banknotes

All euro banknotes have the same side design for each denomination. Banknotes are issued in denominations of €500, €200, €100, €50, €20, €10, €5. The design of each of them is related to the general theme of European architecture of various periods. On the front side of the banknote there are windows or gates, and on the reverse side- bridges. It is noteworthy that these architectural objects do not actually exist, so as not to provoke envy and controversy when choosing which cultural monuments should be depicted on banknotes. Some higher denomination notes, such as the €500, are not issued in some countries, although they remain legal tender in the Eurozone.

Clearing system, electronic payment transfer system.
All money transfers within the Eurozone should cost the same as transfers within the same country. This also applies to retail payments, although the ECB may use some other payment methods.

Payments by credit/debit cards and withdrawals from ATMs throughout Europe are also subject to uniform tariffs. The ECB has not standardized the processing of payments for “paper” payment orders such as cheques; They are currently only valid within a single country.

The ECB has established the TARGET (Trans-European Automated Real-Time Gross Settlement Express) clearing system for large euro transactions.

5 Euro

10 Euro

20 Euro

50 Euro

100 euro

200 euros

500 Euro

Graphic image of euro

A special graphic euro sign (€) was designed based on the results of a public opinion poll, selecting 2 options out of ten. And then the European Commission chose one of them as the final version. The winning project was created by Belgian Alain Biglier. Official version The creation of the euro sign is disputed by Arthur Eisenmenger, once the leading graphic designer of the EEC, who claims that he created the sign as a common symbol of Europe.

According to the European Commission, the symbol is “a combination of the Greek letter upsilon, denoting the importance of European civilization, the letter “E” (for “Europe”) and parallel lines in the form of an equal sign, denoting the stability of the euro.”

In addition, the European Commission has calculated the exact dimensions of the euro logo, indicating the background colors and the sign itself. Although the Commission insisted on this particular spelling of the symbol, most designers have made it clear that they plan to create their own variations.

The placement of the graphic image of the currency is different in all countries. There are no official standards for the placement of the euro sign.

Another advantage of the ultimately selected symbol is that it is easy to type on the keyboard by typing a capital letter "C", pressing the "spacebar" followed by the "equals" sign.

Single economic and monetary space

History (1990 - today)

The common provisions for the euro in the European Union were established by the 1992 Maastricht Treaty to create economic and monetary unity. In order to switch to the new currency, EU countries had to meet strict criteria. For example, the country's budget deficit should not exceed three percent of GDP, its debt ratio should be less than 6 percent of GDP, it should have low inflation and interest rates close to the EU average. Under the Maastricht Treaty, Great Britain and Denmark received exemption from the transition to a single monetary area, which led to the creation of the euro.

Economists involved in the creation of the euro - Robert Mundel, Wim Duesenberg, Robert Tollison, Neil Dowling, Fred Arditti and Tomaso Padoa-Sciopa (Macroeconomic theory, see below.)

Due to the difference in national rates, all payments between national currencies had to be carried out through conversion into euros. The exact value of these currencies in euros (with exchange rates established at the time the euro was introduced) is shown on the right.

Exchange rates were determined by the Council of the European Union based on the market rate on December 31, 1998, so that one ecus was equal to one euro. (The European Currency Unit was the EU unit of account; it existed on the basis of the national currencies of the member countries; the ECU was not an independent currency.) The Pan-European Agreement 2866/98 (EC) of December 31, 1998 established such exchange rates. This could not have happened earlier because at that time the ECU was closely linked to the exchange rate of other currencies (especially the pound sterling).

The procedure for the final recalculation of the drachma into the euro was different, since at that time the euro had already existed for two years. The conversion rate for the first eleven currencies was determined a couple of hours before the introduction of the euro; for the Greek drachma it was established several months earlier, under agreement 1478/2000 (EC) of June 19, 2000.

On the night of January 1, 1999, the euro was introduced into non-cash payments ( traveler's checks, electronic transfers, banking transactions, etc.). When the national currencies of the Eurozone countries ceased to exist separately, their exchange rates were fixed relative to each other, practically making them mere non-decimal parts of the euro. So the euro became a replacement for the ecu. However, notes and coins of the previous currencies remained in circulation as legal tender until the release of new notes and coins in January 2002.

The replacement period, during which old banknotes and coins were exchanged for euros, lasted about two months, until February 28, 2002. The official date for the cessation of the use of national currencies as legal tender varied among countries. The very first country was Germany. On December 31, 2001, the mark officially ceased to be used, although the exchange period lasted for another two months. February 28, 2002 is the end date of the replacement, when all national currencies ceased to be legal means of payment in the Eurozone countries. However, even after the official date, all currencies continued to be accepted at state central banks European countries with restrictions of several years or without restrictions at all, for example, in Austria, Germany, Ireland and Spain. The very first coins to go out of circulation were the Portuguese escudo, which became worthless after December 31, 2002, although the banknotes are subject to exchange until 2022.

Slovenia joined the Eurozone on January 1, 2007, followed by Malta and Cyprus on January 1, 2008.

Eurozone

The Euro is the official currency in Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovenia and Spain. These 15 countries together make up the Eurozone or Euro territory. Less officially, it is also called “Euroland” or “Eurogroup”. In addition to these territories, the geography of the euro as an official currency also extends to the colonies: French Guiana, Reunion, Saint-Pierre and Miquelon, Guadeloupe, Martinique, Saint-Bartholomew, Saint-Martin, Mayotte and desert island Clipperton, French Southern and Antarctic Territories; Portuguese autonomous regions of the Azores and Madeira; Spanish Canary Islands.
Based on a bilateral agreement, the European microstates of Monaco, San Marino and Vatican City mint their own euro coins on behalf of the European Central Bank. However, they are strictly limited in the total amount of coins they can issue.
Andorra, Montenegro, the Republic of Kosovo, Akrotiri and Dhekelia have adopted the euro as the official currency for investment and monetary transactions without participation in the European system of central banks and without the right to issue coins. Andorra has entered into the process of negotiating an agreement on the issue of money in the same way as in the case of the microstates of Europe.
The currencies of several possessions and former colonies of EU states depend on the euro. Among them are French Polynesia, New Caledonia, Wallis and Futuna (CFA franc), Cape Verde, Comoros and fourteen Central and West African states (CFA franc). See "Currencies Dependent on the Euro".
Even though the euro is not legal tender in Denmark and the UK, some shops in these countries accept euros, especially international department stores in major cities and in stores Northern Ireland, on the border with the Irish Republic, where the euro is the official currency. The euro is also widely used in Switzerland, even in government organizations such as Swiss Railways.

Prospects

Countries that joined the EU before 2004

With Greece's accession in 2001 and until the EU's enlargement in 2004, Denmark, Sweden and the UK remained the only EU members to retain their national currency. The situation for these three oldest member states was different from the newer EU members; they did not have a clear timetable for the adoption of the euro:

Denmark rejected several points of the Maastricht Treaty after it failed in a referendum. On September 28, 2000, another referendum on the euro was held in Denmark, ending with a result of 53.2% of votes against joining the Eurozone. However, Danish politicians propose resuming discussion of four controversial points. In addition, Denmark targets the krone exchange rate to the euro (€1 = DKK 7.46038 ± 2.25%), since the krone exchange rate remains under the control of the European Economic Community. Although Greenland and the Faroe Islands are not part of the European Union, they use the Danish krone (in the Faroes this is the Faroese krone) and are therefore also dependent on the EEC.
Sweden: Sweden is obliged to adopt the euro under the 1994 Agreement when economic conditions warrant it. Although other conditions were met, the krone never entered EEC II, preventing Sweden from joining. In 2003, a popular referendum rejected joining the Eurozone and Sweden has no plans to adopt the euro. The EU has made it clear that it turns a blind eye to this, respecting Sweden's position and recognizing Sweden "de facto", but this does not apply to other countries that joined the EU from 2004 to 2007.
The UK was exempt from joining the eurozone under the Maastricht Treaty and is not obliged to switch to the euro. Although the government is trying to join the union, arguing that economic conditions meet all the requirements (meet the “five economic criteria”), this issue was never put to a vote.
The UK was forced to withdraw sterling from the EEC (predecessor to EEC II) on Black Wednesday (16 September 1992) due to confusion between its parity and economic performance, so that the pound is not included in EEC II.

Countries that joined the EU after 2004

Since 2008, nine more states have joined the EU with their own currency; however, all of these countries are required to adopt the euro by accession agreement. Some of these countries have already joined the exchange rate control mechanism of the European Economic Community, EEC II. They plan to join the Eurozone in the following order (EEC III):

January 1, 2009 - Slovakia
January 1, 2010 - Lithuania
January 1, 2011 - Estonia,
On or after January 1, 2012 - Bulgaria, Hungary, Latvia, Czech Republic, Poland and Romania.

The accession of Lithuania and Estonia, scheduled for January 1, 2007, was postponed due to high inflation rates in these countries. Some of these currencies have a floating exchange rate against the euro, while the rest were unilaterally pegged to the euro before joining the EEC II. More detailed information see the article "Mechanism for controlling the exchange rate of the European Economic Community, the exchange rate against the euro and individual articles on currencies."

The Czech Republic initially planned to join EEC II as early as 2008 or 2009, but the current government officially pushed back the date to 2010, stating that the country would not be able to meet economic criteria before then. The deadline has now been extended until 2012.

Latvia also planned to join the Eurozone in 2008, but inflation rates exceeding 11% led to refusal because the country did not meet existing requirements under council rules. Now the government has officially postponed this event to January 1, 2012, although the head of the central bank of Latvia believes that 2013 should be considered a more realistic date.

Poland's finance minister stated his belief that publicly announcing Poland's accession date would be the "wrong tactic".

Other sources question the reality of the entry of the Czech Republic, Lithuania and Estonia even within this time frame.

The fifth report on "Practical preparations for further enlargement of the Eurozone" was presented on July 16, 2007, according to it at this moment only Cyprus, Malta (introduced the euro in January), Slovakia (2009) and Romania (2014) have officially set approximate dates for the transition to the euro.

Estonia, Latvia, Lithuania and Slovakia have already completed development of the design of the obverse side of their future coins.

Since 2002, the motley currency map of a united Europe has lost much of its diversity, and by 2015, 19 countries had officially adopted the euro. The French even noted with some nostalgia the day when the French currency finally ceased to be called the franc and the country completely switched to banknotes and coins of the European Central Bank.

An excursion into the history of French money

Today, few people will immediately remember what currency was used in France before 2002, when cash euros came into circulation. Before the franc was finally “buried” on February 17, 2012 (even the Banque de France stopped accepting it for exchange), National currency France had successfully existed for several centuries before the euro. It began in 1360, when King John the Good was freed from English captivity.

Throughout its history, the franc has been transformed several times. It was originally minted from pure gold, then a silver equivalent appeared, and in 1795 the first paper notes were issued.

At the beginning of 1960, the French franc underwent redenomination, and until 1963 the name of the currency was used with the prefix “new”.

Since 1950, an interstate agreement on the preservation of the Franc Zone was officially consolidated, the main principle of which was a fixed parity rate of all national currencies of the participating countries. Since 2002, the Zone's conversion rate has been based on the euro rather than the franc.

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Cash and non-cash payment methods in France

The universality of the dollar as a unit of payment in Paris has no practical significance, as, indeed, of other currencies of the world. In all establishments in the country, the legal means of payment is exclusively the euro - the only monetary unit of France as of 2019.

Tourists planning a trip abroad should better take care of currency exchange at home, taking into account a number of recommendations:

the conversion rate for Russian rubles into euros in Russia is much more favorable than at exchange offices in France;
if savings are kept in dollars, then it is better to change them upon arrival at your vacation destination in order to avoid losses on double exchange (dollar for ruble, and then ruble for euro);
it is worth ordering a credit or debit card Visa or MasterCard with the ability to make payments abroad;
If it still doesn’t work out with the exchange of the entire required amount, you need to stock up on at least a small amount of euros so that they are enough for two or three days of your stay in the country.

Having a small reserve will allow you to avoid extortionate rates and commissions at exchange offices located at the airport, train station and hotel.

Additional payments during exchange transactions are common, and their size can reach several tens of euros. If you don’t find a suitable exchanger or state bank branch nearby, you should remember that the most profitable commission is considered to be when withdrawing cash from ATMs in France (at least 1% plus a conversion commission in favor of the issuing bank).

For those who do not speak French well, it is better to look for ATMs with the ATM icon: when working with them, you can select a menu in Russian.

In addition to cash, all French shops and establishments accept bank cards. Another thing is that when conducting non-cash transactions there are also features:

when leaving home, it is better to get a smart card (or a card with a chip), since not all ATMs and terminals accept cards with magnetic stripes;
if you have a foreign currency account in euros, then it is most profitable to order plastic specifically for it, then for each transaction they will only charge the commission of the issuing bank;
if the card is linked to a ruble account, you will have to pay a conversion fee (the Russian bank that issued the card will charge a fee);
Of course, only Visa and MasterCard are accepted; foreign national payment systems are not honored in France. Moreover, it is better to take cards of World class or at least Classic with you - problems may arise with Visa Electron and Maestro.

It is also worth remembering that Visa’s base currency is the dollar, while MasterCard works with the euro, so the latter’s tariffs may be more attractive.

Up-to-date information about the course in France

A promptly updated exchange rate against the euro is published on the Bank of France website in the statistics section. The information provided is grouped in such a way that a resource visitor can track daily and average monthly dynamics.

However, the data provided can only serve as a guide, since the applied values at a bank or exchange office may have a significant deviation.

The difference in rates arises due to the collection of additional fees. For example, when exchanging currency through automatic devices in places where tourists gather, for 1 euro you can pay up to 24% plus the established rate.

Currency exchange methods

Unprepared travelers, especially those arriving in France for the first time, can fall into the first financial trap by handing over currency at machines and exchange offices right at the airport. This can only be done in cases where money is needed urgently, for example, to get from Paris to a booked hotel in Bordeaux.

In this case, it is better to change a very small amount of euros. Exchange transactions for larger amounts should be performed in the city:

at exchange offices (bureaux de change) without commission, you can find them at the intersection of tourist routes (you need to pay attention not only to the favorable exchange rate, but also to the No Commission or Sans commissions signs);
in branches of state banks;
at ATMs;
at the post office;
in large supermarkets (sometimes they even accept dollars at the checkout, but change will be given in euros).

In order not to take away unpleasant memories of wasted money from the country, you need to remember several ways that allow you to make money on careless tourists:

owners of exchange offices deliberately post the selling rate instead of buying, which creates the illusion of a profitable exchange (the client must look for the numbers opposite the VEND inscription);
the commission amount is not announced in advance;
at the bank, the amount of the additional contribution will range from 3-5 euros to 24% of the transaction amount, however, these costs can be compensated by a favorable exchange rate;
when selling dollars or Russian rubles in exchange for euros, the overpayment can be up to 10% of the amount.

Some travelers who inquire in advance about what currency is used in France decide to pay during the trip bank cards, rightly considering them to be a more modern means of calculation and storage of funds than cash.

VAT and rules for using Tax Free

When purchasing goods worth 175 euros or more, a tourist can try to get back part of the money spent (in the amount of accrued VAT). The tax refund amount will not exceed 16.67% of the purchase price, because the standard rate in France is 20% (reverse calculation mechanism: price/120*20=16.67%).

Successful processing of tax compensation (DETAXE) is possible subject to certain conditions:

the period of stay in France and the EU is less than 6 months per year;
age – over 16 years;
an amount of 175.01 euros or more must be spent on one day and in one place;
mandatory registration Tax Free at the place of settlement and affixing a stamp at the border. In 2019, you can avoid crowding in queues at customs officers, but take advantage of electronic system PABLO (Programme d’Apurement des Bordereaux par Lecture Optique de code-barres - Program for reconciling receipts by optical barcode reading);
Refunds must be applied for within 90 days of the last day of the month in which the purchase was made.

The customs department has taken care to issue instructions for those wishing to apply for Tax Free through PABLO terminals.

Customs currency restrictions and regulations

French customs officers are authorized to inspect any person crossing the country's border if even the slightest suspicion arises, but most often the likelihood of inspection increases when carrying non-standard luggage. At the same time, restrictions for EU citizens are much softer than for those who present a passport of a country that is not part of the union.

In addition to commodity import regulations, there are also nuances when transporting money and similar valuables. Assessment of compliance with permitted customs criteria is carried out according to simple rules:

the French do not limit the maximum amount of currency that can be imported from outside the EU, but require that valuables worth over 10,000 euros be declared during customs inspection;
no matter what currency the valuables are imported in, the equivalent for evaluation will remain the national currency of France at the current moment and at the exchange rate on the day of entry into the country, that is, the euro;
to cash cash are equivalent to: tickets and coins of national banks, securities, traveler's and bearer checks, letters of credit, bills and bonds;
the cost of all valuables is summed up, the resulting value should not exceed 10,000 euros, otherwise they will have to be declared and, possibly, the origin and purpose of the funds must be explained;
The export of currency is not limited and does not require additional explanation.

When crossing the border without declaring and including in the limit, you can carry money stored on debit and credit bank cards, since they fall under the definition of non-cash funds.

When importing goods purchased in a non-EU state or in territories subject to customs regulations France, no duty is charged if:

the total cost does not exceed 300 euros for those traveling by land;
the amount of goods transported by plane or by sea is less than 450 euros;
items have no commercial purpose.

FAQ

When going on a trip to an unfamiliar country, most often a tourist is interested in the names of the most interesting attractions and issues of rational spending of finances abroad.

How much should I take with me?

Each traveler determines his own budget, but it is worth noting that Paris is a very expensive city. Average cost per tourist day varies from 40 to 100 euros. For those who want to save on cultural program, need to know:

Some public museums do not charge admission or offer free admission on Sundays (for example, Musée Cognacq-Jay, Museum of Modern Art, Maison de Balzac, Musée du Louvre );
students who have issued an ISIC (International Student Identity Card) can take advantage of special discounts;
Children of all ages are admitted free of charge (usually up to 4 years of age), and teenagers under 12 years of age can enter most commercial entertainment venues for half price.

What is more profitable: a bank card or cash?

The number of transactions and amounts of cash payments in Europe are significantly less than in Russia. Therefore, the desire to pay with a card will not surprise even the seller of a small store in a tourist area. However, to protect against surprises, you need to put at least a little cash in your pocket. It would be nice if the cashier gives out small bills in denominations of 5, 10 and 20 euros during the exchange.

If you have the opportunity to take a bank card with you, it is more profitable to use:

linked to a currency account in euros;
safe in terms of fraud (it is better to refuse cards with contactless payment or without PIN code confirmation), because it will be difficult to prove something without good French.

Depending on how much money a tourist is willing to leave in France, the card will be convenient for those who do not want to declare large amounts of cash carried across the border.

How to determine the authenticity of euros when exchanging?

European culture and law-abidingness do not exclude the dishonesty of individuals who want to make money by deceiving foreigners. When currency exchange does not take place at a bank or ATM, you need to clearly understand what French money looks like and remember the main signs of the authenticity of banknotes: watermarks, security thread visible through light, relief printing, hologram, ink that changes color at different angles.

It is good if the traveler becomes familiar with these signs in advance. The most accurate information is on the Banque de France website in the Billets section. It must be remembered that the design of banknotes may differ depending on the country of origin, but this does not affect the ability to pay with them anywhere in the European Union.

Conclusion

In 2012, the franc finally disappeared from the lives of the French, and the only legal currency in France now is the euro. In this regard, tourists who keep their savings in another currency will have to prepare for additional expenses for conversion. This can be done either at home before leaving, or immediately after arriving in the country. Additional Information information about rates and commissions in French exchangers will help you make a financially sound decision.

When planning a visit to financial institutions and currency exchange offices, please note that the average bank is open from 10 a.m. to 5 p.m. exchange offices usually open from 9:00 to 18:00. Changing currency in France is less profitable than in the Russian Federation, so you should think about the exchange in advance and take euros with you, not dollars or rubles. The most profitable ones are French exchangers with a “no commission” sign, but they are rare.

When entering the country, large amounts of cash, over 10 thousand euros, are subject to mandatory declaration. This amount includes not only banknotes, but also bills of exchange, traveler's checks, shares and other securities.

Payment credit card can be done in a store, restaurant, gas station, or even in a taxi. You can’t do without cash except when buying something second-hand, for example, at a flea market.

It is best to take a card with the main currency Euro. When paying with ruble and dollar cards, money is lost on conversion and commissions.

Almost any card, credit or debit, in dollars, euros or rubles is suitable for payments. But problems may arise with structurally and morally outdated bank cards with a magnetic stripe. Not all stores can be used with such cards; problems may arise with paying at automatic gas stations or with getting cash from an ATM.

French commemorative coins

By 2016, EU countries had issued about 250 different commemorative two-euro coins. France did not stand aside either. The general appearance of the coins, with the exception of the image in the central part of the obverse, is unified. All of them are minted with a diameter of 25.75 mm, a thickness of 2.2 mm and a weight of 8.5 grams. The rim and the inside of the banknote are made from different materials.

The outer part, with the EU stars, is made of copper-nickel alloy (75% copper, 25% nickel), the inner part, with the main image, is made of nickel brass, with the addition of zinc (75% copper, 20% zinc, 5 % - nickel). The rim turns out to be “silver”, and the core is “golden”, since zinc gives the alloy a golden color.

Do not confuse commemorative coins with commemorative coins. If the latter are minted using precious metals (silver, gold and platinum), are produced in small quantities and initially have both a higher cost and a significantly higher sales value, then commemorative coins are issued in significant editions and reach numismatists and souvenir hunters more modest price, from face value to 5-6 euros maximum.

The circulation of commemorative banknotes usually ranges from one million to 20 million copies. This indicator does not significantly affect the price of coins. Conventionally, all coins can be divided into “specialized”, local French and pan-European or global.

“Local” banknotes, as a rule, are issued in smaller quantities. Thus, 2 euros for the centenary of the birth of Abbot Pierre or 150 years since the birth of Pierre de Coubertin were issued in the amount of one million copies. The circulation of coins for the tenth anniversary of the economic and monetary European Union, for the 50th anniversary of the Treaty of Rome and for the tenth anniversary of the euro is 10 million copies. Other banknotes dedicated to pan-European and global events and anniversaries are also minted in quantities of 10 to 20 million.

Some coins are distinguished by the presence of a national component, but have a more global significance. This is 2 euros for the 70th anniversary of Charles de Gaulle's address “To all Frenchmen”, 30th anniversary of Music Day in France, 50th anniversary of Franco-German friendship. All of these coins were issued in mintages ranging from 9,400,000 to 10,200,000.

Visually, French commemorative money looks quite attractive, from the image of the charismatic mustachioed Pierre de Coubertin or the bearded Abbé Pierre to the usual inscription, without a design, on the 2008 coin “French Presidency of the EU” and a sketchy image of a man next to the euro symbol on the coin in honoring the tenth anniversary of the monetary union of European countries.

The historical features of the formation of France as a state had a significant impact on the history of the development of French money and coins. Until the middle of the 14th century, France did not have its own monetary unit, and the monetary system was based on the circulation of denarii - Roman gold coins.

Ancient French coins: history of origin

After the fall of Rome in the 5th century. and the formation of the Frankish state, Roman coins gradually went out of circulation due to damage and erasure, and on the territory of France they began to mint their own French coins: first silver, and soon gold.

After the monetary reform of Charlemagne, countable monetary units appeared in France.

For large sums, money was counted in livres, sous and denarii. The Frankish kings sought to centralize coinage.

Gradually, the royal coinage fell into decay, and the appanage kings switched to issuing each their own coins.

Medieval coins of France

The first generally accepted state currency appeared at the beginning of the Hundred Years' War (1360). These were francs - gold coins with the image of the king and the Latin inscription FRANCORUM REX (from Latin king of the Franks).

The king was depicted on horseback on the coin, which is why it was popularly called the “horse” franc. When King Charles V began minting a coin with a full-length image of the king, it became known as the “foot” franc.

The gold franc was issued until the middle of the 15th century, and during the reign of Louis XI it was replaced by the gold ecu.

In 1575-1586, a silver franc weighing 14.188 g began to be produced. The minting of francs from 833-carat silver continued until 1642.

The issue of coins was carried out and controlled by the cities medieval France. At the same time, aristocrats began minting their own coins. In the territories subject to England, so-called Anglo-Gallic coins appeared.

Coins of the 17th - 19th centuries

In the middle of the 17th century, the silver ecus temporarily took a leading position in the monetary circulation of France. Later, the coinage system "golden ecu" was decimalized, when 1 franc was equal to 10 decimes (or 100 centimes). The five gram 1 franc coin contained 4.5 grams of pure silver. Coins were issued in denominations of 5 francs, 2 francs, 1 franc, ½ and ¼ francs, which were later supplemented by gold coins in denominations of 100, 50, 40, 20, 10 and 5 francs.

During the First Republic, the Law of August 15, 1795 established the national currency - the franc.

Bimetallism existed in France for almost all of its history. XIX century. The law provided for the free minting of gold and silver coins having the force of the main means of payment. The value ratio of silver and gold is accepted as 1: 15.5, respectively.

At the same time, paper francs began to be printed, which depreciated in value within three years, and hard currency was finally approved at the state level.

French gold and silver coins

In 1800, by order of Napoleon Bonaparte, the Bank of France was created, which had the exclusive right to issue money. After 65 years, the Paris Convention was signed, as a result of which the Latin Union was formed, uniting the monetary systems of France, Switzerland, Belgium, Italy, and later Greece and Finland.

The basis for the creation of the Union was the recognition of the French franc as the cost standard for the minting of silver coins of the same mass and denomination by all participating countries. The monetary units of the countries of the Latin Union were characterized by the same metal content, which amounted to 0.29 g of pure gold and 4.5 g of silver.

Silver and gold coins were legally subject to free circulation as the main means of payment in the territory of all countries included in the Latin Union. At the same time, the monetary units of each country had their own name, but maintained equal parity. Thus, 1 French franc was equal to 1 Belgian franc and 1 Swiss franc.

Excessive issuance of paper money in France and Italy provoked instability in the Union. There was a sharp decline in the market value of silver, and soon, when exchanging depreciated silver coins, participating countries suffered losses of gold.

The minting of silver coins was stopped, and from 1873 to 1926 the Latin Union existed in the regime of gold monometallism. During the First World War and the post-war period, changes occurred in the monetary policy of the participating countries of the Latin Union, which led to the collapse of the Union and the transition to a new stage of development of the monetary system directly in France.

During the war, gold coins were replaced by banknotes to finance government military expenditures. The stabilization of the franc occurred only in 1926 after the monetary reform, the essence of which was the exchange of banknotes for gold bullion at par.

In 1928, France switched to the gold bullion standard, which lasted until 1936.

During the Second World War, there was an increase in the issue of banknotes, the devaluation and redenomination of the franc. From now on, the new franc received 0.18 g of pure gold and was equal to 100 old ones.

Modern coins of France

The post-war period in France was characterized by numerous attempts to “recover” the economy to reduce inflation, which ultimately led to the emergence and development of a paper-credit monetary system.

The modern monetary system of France has gone through two stages of its development.

1. Circulation of the franc (until 2002).

During this period, money was issued by: the Central Bank of France, some financial institutions, and the Ministry of Finance. Responsibility for implementing a unified monetary policy was assigned to the Central Bank of France.

There is a decrease in the number of banknotes and small change in circulation and a simultaneous increase in demand deposits on current accounts and credit cards.

2. Transition to a single currency - the euro.

Since January 2002, the French franc has been withdrawn from circulation. A single European currency, the euro, appears.

Currently, France is a member of the European Economic Community and actively participates in all reforms.

The only legal tender is the euro.

Marianne - a symbol of free France - VIDEO

Marianne - national symbol France since 1972. Depicted as a young woman wearing a Phrygian cap. She is the personification of the French national motto “Liberty, equality, fraternity”. Sculptural images of Marianna are a mandatory attribute of government agencies, courts, municipalities, and so on. Before the introduction of the euro, images of Marianne were placed on centimes and francs; currently they can be seen on eurocents (1, 2, 5) of French coinage.

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