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Tahiti

Tahiti is the biggest French Polynesian Windward group in the center of the Pacific Ocean with Australia as its nearest largest landmass. The island was shaped by volcanic activity, resulting in a high and mountainous terrain surrounded by coral reefs. It serves as the economic, cultural, and political hub of the region. With its diverse population, including Polynesians, Europeans, Chinese, and mixed heritage individuals, Tahiti became a French colony in 1880. The island boasts stunning landscapes, with lush rainforests, rivers, and waterfalls like Papenoʻo and Fautaua Falls. 

Tourism plays a significant role in Tahiti's economy, accounting for 17% of GDP pre-pandemic. The island's major trading partners include Metropolitan France, China, the US, South Korea, and New Zealand. Additionally, Tahitian pearl farming is a lucrative industry, with most pearls exported to Japan, Europe, and the United States. The island also exports products such as vanilla, fruits, flowers, monoi, fish, copra oil, and noni. Unemployment affects around 15% of the population, particularly women and young individuals without qualifications. The local currency, the French Pacific Franc (CFP), is pegged to the euro, with exchange services available at hotels and financial institutions. 

The French Pacific Franc is Tahiti’s currency. Linked to the Euro, the island’s legal tender experiences fluctuations against the US Dollar. Paper notes come in denominations of 500, 1,000, 5,000, and 10,000. The CFP franc is also the currency in French Polynesia as well as in New Caledonia, and Wallis and Futuna. It was originally known as the Colonies françaises du Pacifique and later became the Communauté financière du Pacifique before being referred to as the Change Franc Pacifique. Its currency code is XPF, and it is divided into 100 centimes. It was created in December 1945, alongside the CFA franc, used in Africa. The currency is issued by the Institut d'Emission Outre-Mer.


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