The economy of French Polynesia relies heavily on France for income. In addition
to money provided by France, tourism and the black pearl industry make up the bulk
of the economy. The vast majority of citizens of French Polynesia, if employed,
work for the government or in the tourist trade. Agriculture provides some
some of the food consumed locally. In the early 1960's, as much as 50% of the
workforce worked in agriculture. By 1990, only 9% worked in agriculture. Because
of the extreme trade deficit and remoteness of the islands, prices for goods are generally high. But
if you know where to shop and where to stay, a trip to Tahiti can be within the
range of most people's travel budgets.
The currency of French Polynesia is known as the French Pacific Franc
and is abbreviated CFP (or sometimes XFP). The rate of exchange for this currency is tied directly to
the Euro, at the rate of 119.3317 CFP to 1 Euro. For exchange with the US
dollar, it amounts to about 115 CFP to $1. For the current exchange rate, click
here.
Even though that is the current rate, you should not expect to get exactly
that rate of exchange while in French Polynesia. Depending on where you do
currency exchange, you will receive anywhere from 2 to 10 CFP less than the
current exchange rate for each $1 US. The one of the best places to get currency exchange
is at the Faa'a International Airport when you arrive, or
at one of these banks; Westpac or Socredo. Hotels are more
convenient, but you get less for your dollar there. If you want the
convenience of having your currency exchanged before you leave, click on the
banner link below.