Gold franc

Gold franc

The gold franc was the unit of account for the Bank for International Settlements from 1930 until April 1, 2003. It was replaced with the Special Drawing Right. It was originally based on the Swiss franc, and remained at the value the Swiss franc was pegged (0.29g/fine gold) after the Swiss franc came off the gold standard.

The gold franc was used in the Anglo-French Condominium of the New Hebrides (now Vanuatu) as the currency in which the joint administration's postal service denominated its stamps. This added to the already confused situation in which the Australian dollar and the New Hebrides franc were used in normal trade (and in which even the pound sterling turned up the columns of earlier joint administration budgetary documents).


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