Xpf

Xpf is the ISO 4217 currency code for the CFP franc, the currency used in several French overseas territories in the Pacific, notably New Caledonia, French Polynesia, and Wallis and Futuna. The CFP franc functions as the lawful tender within these territories and is associated with a distinct monetary regime from mainland France’s euro system.

The currency is issued by the Institut d'Émission d'Outre-Mer (IEOM), the monetary authority responsible for the CFP franc. IEOM handles the production of banknotes and coins and oversees monetary policy within the framework of the fixed exchange-rate regime that ties the CFP franc to the euro.

The CFP franc is pegged to the euro at a fixed rate to maintain exchange-rate stability with the euro area. The commonly cited peg is 1 euro equal to 119.33 XPF, though the peg is managed through the IEOM rather than a separate independent monetary policy. This arrangement means monetary actions in the CFP franc zone are aligned with the euro, limiting autonomous monetary measures for the territories.

In international finance, XPF serves as the standard code for the CFP franc in financial markets, accounting systems, and currency conversions. The currency supports local commerce, government spending, and tourism in the CFP franc zone, while trade and investment with other regions is typically conducted in euros or other major currencies through established exchange channels. The XPF thus represents a regional currency tied to the euro, reflecting the economic relationships of the French Pacific territories.