The CFP franc (called the franc in everyday use) is the currency used in the French overseas collectivities (collectivités d’outre-mer, or COM) of French Polynesia, New Caledonia and Wallis and Futuna. The initials CFP originally stood for Colonies Françaises du Pacifique (“French colonies of the Pacific”). This was later changed to Communauté Financière du Pacifique (“Pacific Financial Community”) and then to the present term, Change Franc Pacifique (“Pacific Franc Exchange”).
The CFP franc was created in December 1945, together with the CFA franc, used in Africa. The reason for the creation of these francs was the weakness of the French franc immediately after the Second World War.