10 Francs – New Caledonia

In 1967, New Caledonia's currency situation was intrinsically tied to its political status as a French overseas territory. The official currency was the French Pacific Franc (CFP franc, or franc Pacifique), which had been created in 1945. This currency was not independent but part of a guaranteed monetary union; its value was pegged to the French franc at a fixed rate, and its convertibility was fully backed by the French Treasury in Paris. This arrangement provided monetary stability and facilitated trade with France, but it also symbolized and reinforced the territory's deep economic dependence on the metropole.

Economically, this period was defined by a major boom driven by the rapid expansion of the nickel mining industry. The "Nickel Boom" of the late 1960s, spurred by high global demand and new investments, brought significant wealth and migration. However, the currency system meant that the primary benefits of this export-driven growth were largely repatriated to French and foreign shareholders, while local economic control remained limited. The fixed CFP franc facilitated this extractive economy but did little to foster broader, diversified local development, contributing to rising economic disparities.

The monetary dependency of 1967 existed within a growing climate of political tension. While ensuring stability, the CFP franc was a clear instrument of French sovereignty at a time when Kanak aspirations for independence were beginning to coalesce into organized political movements. The economic inequalities exacerbated by the nickel boom, set against the backdrop of a currency system controlled from Paris, would become a key point of contention in the debates over autonomy and self-determination that would intensify in the following decade. Thus, the currency situation was a microcosm of the larger colonial relationship.