Algerian franc
Encyclopedia
The franc was the currency of Algeria
between 1848 and 1964. It was subdivided into 100 centime
s.
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
in 1964 following Algerian independace granted by France in 1962.
.
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 five, 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 five, 10, 50 and 100 new francs until 1961.
Algeria
Algeria , officially the People's Democratic Republic of Algeria , also formally referred to as the Democratic and Popular Republic of Algeria, is a country in the Maghreb region of Northwest Africa with Algiers as its capital.In terms of land area, it is the largest country in Africa and the Arab...
between 1848 and 1964. It was subdivided into 100 centime
Centime
Centime is French for "cent", and is used in English as the name of the fraction currency in several Francophone countries ....
s.
History
The franc replaced the budjuAlgerian budju
The budju was the currency of Algeria until 1848. It was subdivided into 24 muzuna, each of 2 kharub or 29 asper. It was replaced by the franc when the country was occupied by France.-Coins:...
when France
France
The French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...
occupied the country. It was equivalent to the French franc
French franc
The franc was a currency of France. Along with the Spanish peseta, it was also a de facto currency used in Andorra . 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...
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
Algerian dinar
The dinar is the currency of Algeria and it is subdivided into 100 santeem .-History:The dinar was introduced on 1 April 1964, replacing the Algerian new franc at par.-Coins:...
in 1964 following Algerian independace granted by France in 1962.
Coins
Except for 20-, 50- and 100-franc coins issued between 1949 and 1956, Algeria used the same coins as metropolitan FranceMetropolitan France
Metropolitan France is the part of France located in Europe. It can also be described as mainland France or as the French mainland and the island of Corsica...
.
Banknotes
The Banque d'Algérie introduced its first notes in 1861. Denominations of five, 10, 50, 100, 500 and 1000 francs were introduced by 1873, although the 10-franc 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, one and two francs. The Bank of Algeria introduced notes worth 10,000 francs and 5,000 francs in 1945 and 1946, respectively.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 five, 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 five, 10, 50 and 100 new francs until 1961.