CFA franc

The CFA franc (in French: franc CFA [fʁɑ̃ seɛfɑ], or colloquially franc) is the name of two currencies used in Africa which are guaranteed by the French treasury. The two CFA franc currencies are the West African CFA franc and the Central African CFA franc. Although theoretically separate, the two CFA franc currencies are effectively interchangeable.

Both CFA Francs currently have a fixed exchange rate to the euro: 100 CFA francs = 1 former French (nouveau) franc = 0.152449 euro; or 1 euro = 655.957 CFA francs exactly.

Although Central African CFA francs and West African CFA francs have always been at parity and have therefore always had the same monetary value against other currencies, they are in principle separate currencies. They could theoretically have different values from any moment if one of the two CFA monetary authorities, or France, decided it. Therefore, West African CFA coins and banknotes are theoretically not accepted in countries using Central African CFA francs, and vice versa. However, in practice, the permanent parity of the two CFA franc currencies is widely assumed.

Franc

The franc (₣) is the name of several currency units. The French franc was the former currency of France until the euro was adopted in 1999 (by law, 2002 de facto). The Swiss franc is a major world currency today due to the prominence of Swiss financial institutions. The name is said to derive from the Latin inscription francorum rex (Style of the French sovereign: King of the Franks) used on early French coins and until the 18th century, or from the French franc, meaning "free" (and "frank").

The countries that use francs include Switzerland, Liechtenstein, and most of Francophone Africa. Before the introduction of the euro, francs were also used in France, Belgium and Luxembourg, while Andorra and Monaco accepted the French franc as legal tender (Monegasque franc). The franc was also used within the French Empire's colonies, including Algeria and Cambodia. The franc is sometimes italianised or hispanicised as the franco, for instance in Luccan franco.

One franc is typically divided into 100 centimes. The French franc symbol was an F with a line through it (₣) or, more frequently, only an F. For practical reasons, the banks and the financial markets used the abbreviation FF for the French franc in order to distinguish it from the Belgian franc (FB), the Luxembourgish franc (FL or FLux) etcetera. (In the Luxembourgish language, the word for franc is Frang, plural form Frangen.)

French franc

The franc (/fræŋk/; French: [fʁɑ̃]; sign: F or Fr), also commonly distinguished as the French franc (FF), was a currency of France. Between 1360 and 1641, it was the name of coins worth 1 livre tournois and it remained in common parlance as a term for this amount of money. It was reintroduced (in decimal form) in 1795. It was revalued in 1960, with each new franc (NF) being worth 100 old francs. The NF designation was continued for a few years before the currency returned to being simply the franc; the French continued to reference and value items in terms of the old franc (equivalent to the new centime) until the introduction of the euro in 1999 (for accounting purposes) and 2002 (for coins and banknotes). The French franc was a commonly held international reserve currency in the 19th and 20th centuries.

History

Before the French Revolution

The first franc was a gold coin introduced in 1360 to pay the Ransom of King John II of France. This coin secured the king's freedom and showed him on a richly decorated horse earning it the name franc à cheval (meaning "free on horse" in French). The obverse legend, like other French coins, gives the king’s title as Francorum Rex ("King of the Franks" in Latin) and provides another reason to call the coin a franc. Its value was set as one livre tournois (a money of account). John’s son, Charles V, continued this type. It was copied exactly at Brabant and Cambrai and, with the arms on the horse cloth changed, at Flanders. Conquests led by Joan of Arc allowed Charles VII to return to sound coinage and he revived the franc à cheval. John II, however, was not able to strike enough francs to pay his ransom and he voluntarily returned to English captivity.

Franc (disambiguation)

Franc or francs may refer to:

CFA

CFA may refer to:

Science and technology

Harvard–Smithsonian Center for Astrophysics

The Harvard–Smithsonian Center for Astrophysics (CfA) is one of the largest and most diverse astrophysical institutions in the world, where scientists carry out a broad program of research in astronomy, astrophysics, earth and space sciences, and science education. The center's mission is to advance knowledge and understanding of the universe through research and education in astronomy and astrophysics.

The center was founded in 1973 as a joint venture between the Smithsonian Institution and Harvard University. It consists of the Harvard College Observatory and the Smithsonian Astrophysical Observatory. The center's main facility is located between Concord Avenue and Garden Street, with its mailing address and main entrance at 60 Garden Street, Cambridge, Massachusetts. Beyond this location there are also additional satellite facilities elsewhere around the globe. The current director of the CfA, Charles R. Alcock, was named in 2004. The director from 1982 to 2004 was Irwin I. Shapiro.

Championnat de France Amateur

The Championnat de France Amateur, commonly referred to as simply CFA and formerly known as National 2, is a football league competition. The league serves as the fourth tier of the French football league system behind Ligue 1, Ligue 2, and the Championnat National. Contested by 64 clubs, the Championnat de France amateur operates on a system of promotion and relegation with the Championnat National and the Championnat de France amateur 2, the fifth division of French football. Seasons run from August to May, with teams in four groups playing 32 games each totalling 1280 games in the season. Most games are played on Saturdays and Sundays, with a few games played during weekday evenings. Play is regularly suspended the last weekend before Christmas for two weeks before returning in the second week of January.

The Championnat de France amateur was initially founded by the French Football Federation in 1927 and was composed of the regional amateur league champions. The league served as the first division of French football until 1929 before the league was converted to the professional league that exists today in 1932. The current incarnation of the CFA was founded in 1993 as National 2 and lasted for five years before being converted to the current format used today. Most clubs that participate in the league are amateur clubs, hence the league name, but a small number of clubs are semi-professional. The matches in the league attract on average between 800 and 1,000 spectators per match. However, this average is dragged down by the minuscule turnouts for the pros' home reserve matches. The current champions are Sedan who accumulated 105 points in Groupe A to earn promotion to the third division. The winners of the Groupe B, Groupe C, and Groupe D were Belfort, Béziers, and Lorient reserves, respectively. Except Lorient, the other two clubs, alongside the champions, earned promotion to the Championnat National.