When the Comoros became a separate French territory in 1945, the name of the issuing bank was changed to the "Banque de Madagascar et des Comores" (still headquartered in Paris). A branch office opened in Comoros in 1953. While the banknotes were changed to reflect the new status of Comoros, the coins were not changed and bore only the name Madagascar. On 26 December 1945, the Madagascar-Comores CFA franc was established and its value was fixed at 1.7 French francs. Old Madagascar coins and banknotes continued to circulate as this new currency. On 17 October 1948, the CFA franc was revalued to 2 French francs.