Algerian franc

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The franc (Arabic: فرنك) was the currency of Algeria between 1848 and 1964. It was subdivided into 100 centimes.

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[edit] History

The franc replaced the budju when France occupied the country. It was equivalent to the French franc and was revalued in 1960 at a rate of 100 old francs = 1 new franc to maintain the equivalence. The new franc was replaced at par by the dinar.

[edit] Coins

Except for 20, 50 and 100 francs coins issued between 1949 and 1956, Algeria used French coins.

[edit] Banknotes

An Algerian 5 franc note issued in 1939
An Algerian 5 franc note issued in 1939

The Banque d'Algérie introduced its first notes in 1861. Denominations of 5, 10, 50, 100, 500 and 1000 francs were introduced by 1873, although the 10 francs note was only issued in 1871. In 1944, notes were issued in the name of the Region Economique d'Algérie in denominations of 50 centimes, 1 and 2 francs. The Bank of Algeria introduced 10,000 franc notes in 1945 and 5000 francs in 1946.

In 1949, the Banque d'Algérie et de la Tunisie commenced banknote issue, with denominations of 500, 1000, 5000 and 10,000 francs. These notes were overprinted with denominations of 5, 10, 50 and 100 new francs in 1960. The Bank of Algeria resumed note production with the introduction of the new franc and produced a final series of notes for 5, 10, 50 and 100 new francs until 1961.

[edit] References

[edit] External links

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