The Franc Poincaré is a
unit of account
In economics, unit of account is one of the money functions. A unit of account is a standard numerical monetary unit of measurement of the market value of goods, services, and other transactions. Also known as a "measure" or "standard" of rela ...
that was used in the international regulation of
liability. It is defined as 65.5 milligrams of gold of millesimal fineness .900. Formerly it was identical to the French franc, although it has not been so since the 1920s.
Practice on its conversion to national currencies varies from state to state; in most states the conversion factor is based not on the market price of gold, but on an official price (a remnant of the gold standard, frequently far below its market price today). The Franc Poincaré has been replaced for most purposes by
special drawing rights
Special drawing rights (SDRs, code ) are supplementary foreign exchange reserve assets defined and maintained by the International Monetary Fund (IMF). SDRs are units of account for the IMF, and not a currency ''per se''. They represent a claim ...
.
Conventions which used the Franc Poincaré included the
Convention for the Unification of Certain Rules Relating to International Carriage by Air, the
and the
.
Modern obsolete currencies
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