Anglo-French Convention on the establishment of a condominium over the New Hebrides; effective 20.10.1906 (amended by the protocol of 06.08.1914): - §4 stated that "English and French money and banknotes authorized by either power shall be legal tender on the group".
22.08.1921
Issuance of paper money 25 Francs by the private company "Comptoirs Français des Nouvelles-Hebrides", subsidiary of the "Establissements Ballande" in New Caledonia; did apparently circulate until the 1930s.
??.??.1925
Issuance of postal stamps with double denominations at a rate of 1 British Pound = 25 French Francs
11.02.1935
Resolution [Joint Protocol], declared legal tender status of the Australian Pound; effective immediately.
19.04.1938
Ordinance [New Hebrides Postage Stamp Joint Regulation No. 6] on the issuance of stamps denominated in former French "Gold Franc" (at 290.32 milligrams fine gold) which was to be rated against the circulating French and British/Australian currencies; effective 01.06.1938.
Time Period: 1941-1980
Currency: New Hebrides Franc
Transition
-
Sub-units
Franc / 100 Cents
ISO4217
none (informal: NHF)
Timeline
19.03.1941
Monetary agreement between Great Britain and the French government-in-exile to stabilize the exchange rate of the French Franc rate at pre-war level for the territories under control of the "France Libre"; effective immediately. - 08.02.1944: Monetary agreement between Great Britain and the French government-in-exile, adjusted the 1941 exchange rate; effective immediately.
01.09.1941
Ordinance ["Control of French New Hebrides Currency (Defence)" Joint Regulation No. 18] on the import of overprinted banknotes of the Bank of Indochina and a three months' import ban of other paper money; effective immediately.
around 1943
Issuance of emergency paper money by the French National Services of the New Hebrides
around 1946
Start of importation of paper money that had been purchased from the Bank of Indochina in New Caledonia and counter-stamped for use in the New Hebrides (the Bank of Indochina did not have any issuing privilege)
30.03.1967
Ordinance [No. 67-267] on the establishment of the French Overseas Currency Institute for the Pacific overseas territories (French Polynesia, New Caledonia, Wallis & Futuna); effective 01.04.1967. - The Institute also issued banknotes and coins for the New Hebrides although its jurisdiction did not include the condominium.
25.10.1967
Resolution of the Currency Institute on the creation of paper money to the CFP Franc (and coins which were not mentioned); issuance began in April 1969.
30.10.1969
Demonetization of the overprinted banknotes of the Bank of Indochina
26.03.1971
Ordinance [No. 71-229] on the issuance of subsidiary coins for New Caledonia (including Wallis & Futuna) and French Polynesia by the Currency Institute; effective immediately. - The Institute's coins for the New Hebrides was mentioned in an annex on the details of the issuance although its jurisdiction did not include the condominium.
30.03.1973
Ordinance ["Monetary Provisions" Joint Regulation No. 6] on the peg to the Australian Dollar (severing the link to the French Franc); effective immediately
Valuation Regimes
1941-1949
Fixed rate against Australian Pound / British Pound (the Pacific colonies decoupled from the monetary system of occupied mainland France)
1949-1958
Fixed rate against French Franc (1795)
1958-1973
Fixed rate against French Franc (1958)
1973-1980
Fixed rate against Australian Dollar
Rate Arrangements
19.03.1941
Fixed
Australian Pound at 1 : 141.30 (British Pound at 1 : 176.25)
-
22.02.1944
Fixed
Australian Pound at 1 : 160 (British Pound at 1 : 200)
-11.9%
26.12.1945
Fixed
Australian Pound at 1 : 160 - French Franc (1795) at 2.40 : 1
±0.0%
26.01.1948
Fixed
Australian Pound at 1 : 160 - French Franc (1795) at 4.32 : 1
±0.0%
18.10.1948
Fixed
Australian Pound at 1 : 160 - French Franc (1795) at 5.31 : 1
±0.0%
27.04.1949
Fixed
Australian Pound at 1 : 160 - French Franc (1795) at 5.48 : 1
±0.0%
20.09.1949
Fixed
French Franc (1795) at 5.50 : 1 - Australian Pound at 1 : 142.40
+0.4%
27.12.1958
Fixed
French Franc (1958) at 0.55 : 1 - Australian Pound at 1 : 200
±0.0%
08.08.1969
Fixed
French Franc (1958) at 1 : 16.161 - Australian Dollar at 1 : 100
+12.5%
30.03.1973
Fixed
Australian Dollar at 1 : 100
±0.0%
Time Period: 1981-
Currency: Vanuatuan Vatu
Transition
1 : 1
Sub-units
(none)
ISO4217
VUV
Timeline
16.12.1980
Government resolution of the currency reform; effective 01.01.1981
18.12.1980
Law [Central Bank Act, No. 3] on the establishment of the central bank; effective upon constitution of the bank on 01.01.1981 - The "Banque Indosuez Vanuatu" (established 1978, partially government-owned 1983-1993) took over some of the central bank functions until the Central Bank of Vanuatu was ready to take over full responsibility on 01.01.1988.
28.02.1982
Start of currency exchange: - 28.02.1982: Start of issuance of the new banknotes (coins followed in 1983 - 30.03.1983: Demonetization of the former and Australian currencies.
08.05.1989
Law [Central Bank (Special Provisions) Act, No. 7] on the reconstitution of the central bank and name change into "Reserve Bank of Vanuatu"; effective 16.05.1989
Valuation Regimes
1981
Fixed rate against Australian Dollar
1981-1988
Fixed rate against IMF Special Drawing Rights (SDR) unit