The Comorian franc
Currency · KMF · CF · 1 country
Comoros holds its franc at a fixed 491.96775 to the euro, the rate it carried over from the French franc in January 1999. France guarantees the convertibility through an operations account the central bank keeps at the French Treasury. The Banque Centrale des Comores has issued the currency since 1 July 1981, and centimes have never been minted.
The abbreviation
The franc has no sign of its own. Comorian notes and coins write amounts with the letters FC, for franc comorien, as in 500 FC. The CF shown here is the form in the Unicode locale data (CLDR) this page is built from.
- ISO code
- KMF
- ISO number
- 174
- Fraction
- None, amounts are whole units
An amount, written out
CF 1,234
- CF 1,234English
- ١٬٢٣٤ CFArabicComoros
Where the Comorian franc is the official currency
Comoros is its sole user. A 1979 agreement with France puts the country in the franc zone, yet the Comorian franc stays separate from both CFA francs.
About the Comorian franc
How the islands got a franc of their own
The French franc came to the Comoros with the protectorate of 1886. From 1912 the islands were run as a province of Madagascar and shared its money: first the franc issued by the Banque de Madagascar from 1925, then the Madagascar-Comores CFA franc from 26 December 1945. The bank was renamed the Banque de Madagascar et des Comores, and the notes meant for the islands were marked Comores in red to tell them apart. From 1 April 1962, after Madagascar started its own currency, every note the bank issued for the Comoros carried the overstamp, and notes without it stopped being legal tender at the end of 1964.
French law withdrew the bank's right of issue on 21 December 1973. The Institut d'Émission des Comores, created on 31 December 1974 with its registered seat in Moroni and its administration in Paris, took over the issue of notes and coins on 1 June 1975. Independence followed on 6 July 1975. The institute kept the issue. The Banque Centrale des Comores succeeded it on 1 July 1981 and runs branches on Anjouan and Mohéli.
What the agreement with France guarantees
On 23 November 1979 Comoros signed a monetary cooperation agreement with France. It placed the country in the franc zone without joining it to the CFA franc. The agreement set a fixed parity between the French franc and the Comorian franc, with free convertibility between them. The guarantee runs through an operations account the Comorian central bank opened at the French Treasury, and every exchange transaction passes through it.
France sits on the board too. Its eight directors come from the Comorian government, the Banque de France and the French government, and the deputy director, in charge of monetary policy, is a Banque de France official. The bank also requires commercial banks to hold 30% of their deposits as reserves.
Why the rate to the French franc changed
For years the peg stood at 50 Comorian francs to one French franc. The rate held until 1994. On 12 January the currency was devalued alongside the CFA franc, but by less: the Comorian franc moved to 75 per French franc, while the CFA franc went to 100. When the euro arrived in January 1999 the peg passed to it at the rate then in force.
Where the coins and notes are made
The Monnaie de Paris has struck every general circulation Comorian coin, at its plant in Pessac, and its cornucopia mint mark sits beside the date. The Banque de France makes the paper for the notes at Vic-le-Comte and prints them at Chamalières, both in Puy-de-Dôme. Coins made for the Comoros alone first appeared in 1964; notes of 500, 1,000, 2,000, 5,000 and 10,000 francs circulate now. The 1, 2, 5 and 10 franc coins see little use. No centime coin exists.
Common questions
Questions about the Comorian franc
Is the Comorian franc a CFA franc?
No. The Comoros belongs to the franc zone under its 1979 agreement with France, but its franc is separate from both CFA francs. The difference showed on 12 January 1994: the CFA franc was devalued to 100 per French franc, and the Comorian franc to 75. Both pegs passed to the euro in 1999 at the rates then in force, so the two currencies convert to the euro at different fixed rates.
Why are there no centimes in the Comoros?
The franc is divided into 100 centimes on paper only. No centime denomination has ever been issued, and even the low franc coins of 1, 2, 5 and 10 francs are rarely used because their value is so low. The ISO 4217 list gives the currency no minor unit.
Where are Comorian coins and notes made?
In France. The Monnaie de Paris has struck every circulation coin at Pessac in Gironde, and the Banque de France prints the notes at Chamalières on paper from its mill at Vic-le-Comte. The Comorian government asked for the Paris cornucopia mark to be left off the 50 franc coin of 1994.
What are reali, nusu and robo?
They are nicknames for the coins of 5, 2 and 1 francs. The 5 franc coin is called reali, after the Spanish real. The 2 franc coin is nusu, meaning half, and the 1 franc coin robo, meaning quarter. All three belong to the low denominations that now see little use in payments.