The franco was a currency introduced in the Dominican Republic in 1891. It was subdivided into 100 centesimos and was equal to 5 pesos. Five denominations of coins were issued, 5, 10 and 50 centesimos, 1 and 5 francos. Although apparently intended to replace the peso, this did not happen and in 1897, new coins denominated in pesos and similar in design to the franco coins were introduced. The coins matched the specifications of the French 10 and 50 centimes and 1 and 5 francs, indicating that a link between the franco and the Latin Monetary Union was intended. The peso oro is the base currency of the Dominican Republic. ... The Latin Monetary Union (1865-1927) was a 19th century attempt to unify several European currencies into a single currency that could be used in all the member states, at a time when most national currencies were still made out of gold and silver. ...