Currency of France
Starting on January 1st, 2002 all the countries of the European Union, including France, started the introduction of a new European currency, namely – the Euro. By 1st of July 2002 the Euro completely and definitively replaced the previous national currency called the French Frank. Today 1 Euro equals 6.56 FF (french franks). Before the above mention time you could exchange Franks for Euros and pay for your purchases with the old currency. The change would be given out in Euros and the prices were indicated in both currencies for the sake of convenience.
For the purpose of currency exchange, the most favorable rates are usually at the Bank de France, and also at the exchange bureaus which have a sign saying "No Commission". The kiosks at the French airports, hotels and bus/train stations often have a less favorable exchange rate.
Bank are open from 10AM until 5PM, Monday through Friday in the Paris region. The rural banks are open Wednesday through Saturday and close somewhere between 1AM and 3AM. Some of the bank open Saturday mornings. Please note that before holidays banks will close earlier.
Credit cards are accepted in most of the stores, hotels, and restaurants. The stores will often indicate a minimal required amount of purchase.
The sales taxes is 20.6% (33% for luxury items) and is included in the price of most of the goods. All foreign citizens making purchases for an amount exceeding 185 Euros can obtain a sales tax refund. The money is refunded at the border crossing. To obtain a refund you will need to show the receipt and the item, and the check is usually mailed to your residence and can be cashed at a local bank.
