The franc was the currency of the Anglo-French Condominium of the Pacific island group of the New Hebrides (which became Vanuatu in 1980).

Until World War II, the New Hebrides used the French franc and the British and Australian pounds.

The first New Hebridean banknote was issued in 1921, a 25 franc note of the Comptoirs Français des Nouvelles Hébrides (French Trading Posts of the New Hebrides) dated 22 août (August) 1921.

The same denominations were issued in 1943 by the Free French Services Nationaux Français des Nouvelles Hébrides.

In 1965, the Institut d'Emission d'Outre-Mer took over the issuance of paper money on the New Hebrides and introduced notes in denominations of 100, 500 and 1000 francs between 1965 and 1972.