The franco was a

currency A currency, "in circulation", from la, currens, -entis, literally meaning "running" or "traversing" is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins. A more general ...

introduced in the

Dominican Republic The Dominican Republic ( ; es, República Dominicana, ) is a country located on the island of Hispaniola in the Greater Antilles archipelago of the Caribbean region. It occupies the eastern five-eighths of the island, which it shares with ...

in 1891, as the Dominican Republic Government, then headed by president

Ulises Heureaux Ulises Hilarión Heureaux Leibert (; October 21, 1845 – July 26, 1899) nicknamed Lilís, was president of the Dominican Republic from September 1, 1882 to September 1, 1884, from January 6, 1887 to February 27, 1889 and again from April 30, 18 ...

intended to join the

Latin Monetary Union The Latin Monetary Union (LMU) was a 19th-century system that unified several European currencies into a single currency that could be used in all member states when most national currencies were still made out of gold and silver. It was establ ...

. It was subdivided into 100

centesimo ''Centesimo'' (plural centesimi) is the Italian word for "cent", derived from the Latin ''centesimus'' meaning "hundredth". In Italy it was the division of the Italian lira. Currencies that have centesimo as subunits include: Circulating * Swi ...

s. Five denominations of

coin A coin is a small, flat (usually depending on the country or value), round piece of metal or plastic used primarily as a medium of exchange or legal tender. They are standardized in weight, and produced in large quantities at a mint in order t ...

s were issued, 5, 10 and 50 centesimos, 1 and 5 francos. Although apparently intended to replace the mexican peso which was the main circulating currency back then, this did not happen, because the Dominican Government did not establish parity with the circulating Mexican peso and in 1897, new coins denominated in pesos and similar in design to the franco coins were introduced. The coins matched the specifications of the French 10 and 50 centimes and 1 and 5

francs The franc is any of various units of currency. One franc is typically divided into 100 centimes. The name is said to derive from the Latin inscription ''francorum rex'' (King of the Franks) used on early French coins and until the 18th centu ...

, indicating that a link between the franco and the

was intended. In 1891, 125,000 1-franco coins were produced.

References

Modern obsolete currencies 1891 establishments in the Dominican Republic 1897 disestablishments in the Dominican Republic 19th century in the Dominican Republic 19th-century economic history Currencies of the Dominican Republic {{DominicanRepublic-stub