Comoros Francs (KMF)

The Comoros Franc (KMF) is the official currency of the Comoros, an archipelago located off the eastern coast of Africa in the Indian Ocean. The Comoros Franc is issued and regulated by the Central Bank of the Comoros.

Here are some key details about the Comoros Franc:

1. Symbol and Code: The symbol for the Comoros Franc is “CF” or “KMF”. The currency code for the Comoros Franc is KMF, as per the ISO 4217 standard.

2. Subunits: The Comoros Franc is further divided into smaller units called centimes. However, due to inflation and the low value of centimes, they are no longer in circulation and are not commonly used.

3. Denominations: The Comoros Franc is available in both banknotes and coins. Banknotes are issued in denominations of 500, 1,000, 2,000, 5,000, 10,000, and 20,000 KMF. Coins are available in denominations of 1, 2, 5, 10, 25, 50, 100, and 250 KMF.

4. Exchange Rate: The exchange rate of the Comoros Franc can fluctuate against other major currencies, such as the US Dollar or Euro. It is recommended to check the current exchange rates before conducting any currency conversions or transactions.

5. Legal Tender: The Comoros Franc is the official legal tender in the Comoros Islands. It is used for all transactions within the country, including buying goods and services, paying bills, and conducting daily financial activities.

6. Monetary Policy: The Central Bank of the Comoros is responsible for formulating and implementing monetary policies to ensure price stability and economic growth. It regulates the supply of Comoros Francs in circulation and monitors the overall financial system of the country.

7. Foreign Exchange: While the Comoros Franc is the official currency of the Comoros, it is not widely accepted outside the country. For international transactions, it is often necessary to convert Comoros Francs into a more widely accepted currency, such as the US Dollar or Euro.

8. Economic Significance: The Comoros Islands have an economy primarily based on agriculture, fishing, and remittances from Comorian diaspora. The Comoros Franc plays a crucial role in facilitating domestic trade and economic activities within the country.

It’s important to note that the information provided here is a general overview of the Comoros Franc. For more detailed and up-to-date information, it is recommended to consult with financial institutions, currency exchange services, or the Central Bank of the Comoros.