Reunion is a French overseas department and region that lies in the Indian Ocean approximately 950 kilometers east of Madagascar and about 175 kilometers southwest of Mauritius. Reunion is the European Union’s outermost region and is part of the French Republic and the eurozone. The overseas territory has its own regional and departmental council, however, its military defense is under the French Armed Forces.

The tourism industry is the primary source of the island’s income followed by the production and processing of sugarcane. Prior to the global economic crisis in 2008, Reunion’s economy was catching up with other French regions. It had an average growth of 4.6% per annum from 1997 until 2007. However, the recession has impacted Reunion’s economy in 2008. It declined in 2009 and 2010 and went stagnant in the following years. IT’s GDP per capita plummeted to 60.6% of France’s level in 2013. Its growth bounced in 2014 and in 2017, its GDP rose to 62.4% of France’s metropolitan level.

 Prior to joining the eurozone, Reunion’s official currency was the franc which was subdivided into 100 centimes. Even before 1975, the region has a currency of its own, distinct from the French franc. Following to the establishment of the Bank of Reunion, a set of Reunion franc banknotes were introduced between 1873 and 1876 in denominations of 5, 10, 25, 100, and 500 francs. Between 1884 and 1886, 50 centimes, and 1, 2, and 3 francs were introduced by the Colonial Treasury.  

In 1943, Central Cashier of Free France was formed, taking over the issuance of notes. It issued paper bills similar to those issued in French Equatorial Africa. In the following year, the Central Cashier of Overseas France took over the banknote issuance responsibility. Another set of notes was released by the Caisse Central de la France d’Outre-Mer in 1947. These notes were for French Equatorial Africa with “La Reunion” overprint. In 1962, the Issuing Institue of Overseas Territories introduced franc paper bills overprinted with La Reunion or Departement de la Reunion.

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