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What is Monaco Currency? How Much is Monaco Minimum Wage?

by Financial Economy

Monaco is the second smallest state in the world. It is geographically close to the Vatican, the smallest country in the world. While the Vatican is established in Rome, the capital city of Italy, Monaco is located on the southern border of France. Monaco, whose land borders are completely covered with France, has a coast to the Mediterranean. Monaco is among the richest states in the world. Detailed information about; what is Monaco currency, how much is Monaco minimum wage are in rest of the article. You can browse here for Andorra Currency 2021 Andorra Economy.

What is Monaco Currency?

Monaco has been using the Euro since 2002 as its currency. Currently, Monaco’s official currency is the Euro. Monaco’s currency was Monaco Franc before 2002. Monaco, which started to use the Euro in 2002 with France, is not actually a member of the European Union. However, it is included in the Euro Zone. The original name of Monaco Franc is written as “Franc Monégasque”. Before Monaco Franc, French Franc was used in Monaco. Subsequently, the country printed its own currency and started using Monaco Franc. In 1995, the French Franc and Monaco Franc were deemed equivalent in value. Since 2002, it has been using the Euro as its official currency. Today, Monaco Franc is not in circulation.

The Monaco Franc subunit was known as the centime. Monaco Centime unit would be denoted as “c”. 100 Monaco Centime was equal to 1 Monaco Franc. Unlike modern currencies, the Monaco Franc was not printed as banknotes. The Monaco Franc is minted and used only as a precious metal, in metal form. Monaco franc banknote was only printed in 1920 and never again.

How Much is Monaco Minimum Wage?

Monaco is a very rich country. Its total population is around 40 thousand. Per capita income in Monaco is around 170 thousand dollars. It ranks first in the world in terms of per capita income. Monaco, which has the highest per capita income in the world, applies the minimum wage above 2300 Euros.

For details: https://en.wikipedia.org/wiki/Mon%C3%A9gasque_franc

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