The CFP franc (usually just called "franc") is the currency used in some of France's overseas colonies (French Polynesia, New Caledonia and Wallis and Futuna). It was created in December 1945. The initials "CFP" originally stood for "Colonies françaises du Pacifique" ("French colonies of the Pacific") but now officially stand for "Change Franc Pacifique" ("Pacific Franc Exchange"). There are 1, 2, 5, 10, 20, 50 and 100 CFP franc coins and 500, 1000, 5000 and 10 000 CFP franc banknotes.