KMF

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Comorian Franc (KMF)

Overview

The Comorian franc (KMF) is the official currency of the Union of the Comoros, an island nation in the Indian Ocean. It is issued and managed by la Banque Centrale des Comores, headquartered in Moroni. The KMF is officially pegged to the euro at a fixed rate of 491.96775 KMF = 1 EUR.

Denominations

  • Banknotes: 500, 1,000, 2,000, 5,000, 10,000 francs
  • Coins: 1, 2, 5, 10, 25, 50, 100 francs
    The franc is subdivided into 100 centimes, but centime coins have never been issued or used.

Exchange and Usage

  • The KMF’s fixed peg to the euro stabilizes its value relative to the euro; exchange rates with other currencies (such as the U.S. dollar) fluctuate accordingly.
  • Cash is the predominant payment method across the islands. Hotels and larger businesses may accept credit cards; some merchants accept euros or U.S. dollars, but change is normally given in KMF.

Economic context

Comoros is a small, low-income economy with limited natural resources. Key points:
– Major economic activities: agriculture, fishing, and tourism.
– Main export products: vanilla, cloves, and ylang-ylang (an aromatic oil used in perfumery).
– Despite fertile land and a sizable fishing sector, the country imports a large share of its food supply.
– The economy is vulnerable to extreme weather and volcanic activity, which affect agriculture and tourism.

Brief history of the currency

  • Under French colonial rule the French franc circulated.
  • In 1920 emergency currency was produced by overprinting Madagascar stamps.
  • Comorian-specific coins and banknotes began circulating in the 1960s. Arabic script appeared on some issues from the mid-1970s onward.
  • Before the euro existed, the KMF was pegged to the French franc (historically 50 KMF = 1 French franc). When the euro was adopted, the peg was transposed to the euro at the fixed rate noted above.

Practical tips for visitors

  • Bring euros or U.S. dollars if possible and be prepared to use cash.
  • Exchange major currencies at banks or official exchange bureaux; carry smaller KMF notes for everyday purchases.
  • Verify card acceptance in advance—remote areas and small shops typically do not accept cards.

Key takeaways

  • KMF is the official currency of Comoros and is managed by the central bank in Moroni.
  • It is pegged to the euro at 491.96775 KMF per euro.
  • Cash dominates daily transactions; centimes are not used.
  • The economy relies on agriculture, fishing, and a few export crops, and remains vulnerable to external shocks.