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post in: Facts, News Date:17 Dec 2012, 09:58 views:1017
The franc also commonly distinguished as the arriesgarnos French franc (FF was a currency of France. Between 13, 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.
The French franc was a commonly held international reserve currency in the 19th and 20th centuries. Henry III exploited the association of the franc as sound money worth one livre tournois when he sought to stabilize French currency in 1577.
By this time, inflows of gold and silver from Spanish America had caused inflation throughout the world economy and the kings of France, who werent getting much of this wealth, only made things worse by manipulating the values assigned to their coins. The States General which met at Blois in 1577 added to the public pressure to stop currency manipulation. Henry III agreed to do this and he revived the franc, now as a silver coin valued at one livre tournois.
This coin and its fractions circulated until 1641 when Louis xiii of France replaced it with the silver?cu. Nevertheless, the name "franc" continued in accounting as a synonym for the livre tournois.
France was a founding member of the Latin Monetary Union (LMU) in 1865. The common currency was based on the franc germinal, with the name franc already being used in Switzerland and Belgium, whilst other countries used their own names for the currency.
In 1873, the LMU went over to a purely gold standard of 1 franc. A consent order of permanent injunction entered by Judge Conley on March 8, 2011, finds that Omukwe, JadeFX and Jade Investments Group violated the CEA by defrauding customers in connection with foreign exchange transactions.
It also finds that JadeFX and Omukwe violated the CEA and Commission regulations by failing to register as rfeds and that Omukwe violated the CEA and Commission regulations by failing to register as an associated person of an rfed. Nearly two years of relative political stability has allowed the Government of Cote dIvoire (goci) to focus on continued economic recovery following the 2011 post-electoral crisis and after more than a decade of economic mismanagement and infrastructure decay. Returning the country to its former status as West Africas regional economic and financial powerhouse has been the guiding principle of President Ouattaras initial policy objectives.
In 2012, these efforts began to bear fruit, with estimated GDP growth.6 percent and stronger than expected fiscal receipts. Significant legislative steps were also taken to improve business conditions and encourage foreign private investment.