Luxembourgish Franc
| Luxembourgish franc | |
|---|---|
|
franc luxembourgeois (French) Luxemburger Franken (German) Lëtzebuerger Frang (Luxembourgish) |
|
1 Luxembourg franc 1981
|
|
| ISO 4217 | |
| Code | LUF |
| Denominations | |
| Subunit | |
| 1⁄100 |
centime (French) cent (German) |
| Plural |
francs (French) Franken (German) Frang (Luxembourgish) |
| centime (French) cent (German) |
centimes (French) cent (German) |
| Symbol | fr. or F |
| centime (French) cent (German) |
c. |
| Banknotes | 100, 1000, 5000, fr.2 |
| Coins | 25 centimes, 1, 5, 20 & 50 francs 1 |
| Demographics | |
| User(s) | None, previously: Belgium, Luxembourg
|
| Issuance | |
| Central bank | Central Bank of Luxembourg3 |
| Website | www |
| Printer | National Bank of Belgium4 |
| Website | www |
| Mint | National Bank of Belgium4 |
| Website | www |
| Valuation | |
| Pegged with | Belgian franc at par |
| ERM | |
| Since | 13 March 1979 |
| Fixed rate since | 31 December 1998 |
| Replaced by €, non cash | 1 January 1999 |
| Replaced by €, cash | 1 January 2002 |
| € = | 40.3399 francs |
|
This infobox shows the latest status before this currency was rendered obsolete.
1Belgian franc coins were also used
2Belgian franc notes (including 10,000 fr.) were also used |
|
2Belgian franc notes (including 10,000 fr.) were also used
3Institut Monétaire Luxembourgeois before 1998
The Luxembourgish franc (more commonly Luxembourg Franc or LUF, French: franc luxembourgeois, Luxembourgish: Lëtzebuerger Frang, German: Luxemburger Franken) was the currency of Luxembourg between 1854 and 1999 (except during the period 1941-44). The franc remained in circulation until 2002, when it was replaced by the euro. During the period 1999–2002, the franc was officially a subdivision of the euro (1 euro = 40.3399 francs) but the euro did not circulate. Under the principle of "no obligation and no prohibition", financial transactions could be conducted in euros and francs, but physical payments could only be made in francs, as euro notes and coins were not available yet.
The franc was subdivided into 100 centimes.
The conquest of most of western Europe by Revolutionary and Napoleonic France led to the French franc's wide circulation, including in Luxembourg. However, incorporation into the Netherlands in 1815 resulted in the Dutch guilder becoming Luxembourg's currency. Following Belgium's independence from the Netherlands, the Belgian franc was adopted in 1839 and circulated in Luxembourg until 1842 and again from 1848. Between 1842 and 1848, Luxembourg (as part of the German Zollverein) used the Prussian Thaler.
In 1854, Luxembourg began issuing its own franc, at par with the Belgian franc. The Luxembourg franc followed the Belgian franc into the Latin Monetary Union in 1865. In 1926, Belgium withdrew from the Latin Monetary Union. However, the 1921 monetary union of Belgium and Luxembourg survived, forming the basis for the full Belgium-Luxembourg Economic Union in 1932. In 1935, the link between the Luxembourg and Belgian francs was revised, with 1 Luxembourg franc = 1 1⁄4 Belgian francs.
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