The currency of France was traditionally the Franc. According to ISO 4217 code, the French Franc is symbolized as FRF. In 2002, the Euro replaced the Franc as the official currency. In 1999, the exchange rate between the French Franc and the Euro was specified at 1 Euro = 6.55957 FRF.
In France, foreign exchange market operations are performed by a number of banks and foreign exchange trading agencies. Exchange rates are regulated by the Bank of France (Banque de France) and are dependent on the exchange rate of the Euro with foreign currencies.
The Bank of France plays a significant role in the foreign exchange market of France. The principal aim of the bank is to bring stabilization in the French forex market with the help of proper implementation of its foreign exchange policies and fiscal policies.
Foreign exchange transactions in France form a substantial segment of the European foreign exchange market, due to the high liquidity of the Euro and its global acceptance.
In terms of U.S. dollar exchange rates, France holds the rank of the sixth largest economy in the world. France is a member of the G7 group and follows the floating exchange rate system; this explains the interventions taken from time to time to stabilize the French foreign exchange market.
Foreign exchange trading agencies in France also offer online forex trading, allowing forex traders to participate in the market at all times.