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The CFP franc (called the franc in everyday use) is the currency used in the French overseas collectivities (French: collectivités d'outre-mer, or COM):
   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 its present term, Change franc Pacifique ('Pacific Franc Exchange'). Its ISO 4217 currency code is XPF.

The CFP franc was created in December 1945, together with the CFA franc, used in Africa, but that situation ended in September 1949 when the CFP franc was given a fixed exchange rate with the French franc.
The CFP franc has been issued by the IEOM (Institut d'émission d'outre-mer, 'Overseas Issuing Institute') since 1967. The IEOM has its headquarters in Paris.
The currency was initially issued in three distinct forms for French Polynesia, New Caledonia and the New Hebrides.
Wallis and Futuna used the New Caledonian franc.
Although the banknotes of the New Hebrides bore the name of the territory, the notes of French Polynesia and New Caledonia could only be distinguished by the name of the capitals (Papeete and Nouméa, respectively) on the reverse of the notes.
In 1969, the New Hebrides franc was separated from the CFP franc and was replaced by the Vanuatu vatu in 1982.

The IEOM began issuing banknotes in New Hebrides in 1965, and in New Caledonia and French Polynesia in 1969.
Today, all banknotes are strictly identical from New Caledonia to French Polynesia. One side of the banknotes shows landscapes or historical figures of French Polynesia, while the other side of the banknotes shows landscapes or historical figures of New Caledonia.

On January 6, 2014, the IEOM unveiled designs for a new series of banknotes. The new notes were issued on January 20. The older issues ceased circulation on September 30 of that year, but can be exchanged indefinitely at the Institut d'Emission d'Outre-Mer offices.

January 1, 1999 onward – Fixed exchange rate with the euro at 1,000 XPF = 8.38 EUR or 1 EUR ≈ 119.332 XPF (January 1, 1999: euro replaced FRF at the rate of 6.55957 FRF for 1 euro)
The calculation to the euro was 0.055 ÷ 6.55957 × 1000 ≈ 8.3847 {\displaystyle 0.055\div 6.55957\times 1000\approx 8.3847} , which meant that 1000 XPF was not worth exactly €8.38 prior to the introduction of the euro. The value of 1000 XPF in euros was instead rounded to the nearest euro cent upon the introduction of the euro.