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The French franc (abbreviated as F, FF, FR, FF) is a former monetary unit (currency) of France, used also in Andorra and Monaco. Although a piece named "frank" or "honest horse" has existed since December 5, 1360, the French franc was the currency unit (currency) only of France between April 7, 1795 and December 31, 1998 (and a common currency unit in Andorra and Monaco). It succeeds because the pound tournament, which was the unit of account of the old regime, the franc being then a settlement currency. On 1 January 1999, the franc has become a national division of the euro, the common currency. On 1 January 2002, the French franc has completely ceased to be a unit of account before ceasing to be legal tender 17 February 2002, when he was replaced by the euro became the single currency, coins and notes in French francs being demonetized.