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- Swiss Franc
CHF - Swiss Franc
Importance of the Swiss Franc
The combination of the Swiss Central Bank's zero inflation with Switzerland’s political independence made the Swiss Franc one of the most powerful and stable currencies across the globe. The most distinct example where the CHF was considered a safe haven was during the political and economical crisis that occurred across Europe in 2008. Moreover, CHF attracts more and more foreign investments since Switzerland has strong financial structures leading to economic stability as well as a very transparent reporting system giving confidence and trust to potential investors.
Introduction of the Swiss Franc
The Swiss local currency known as the franc was first introduced in 1798 by the Helvetic Republic and it was circulated until 1803. It was used in day trading together with various foreign coins and banknotes. In 1848, the Swiss Federal Constitution declared that the government of Switzerland will be the only official power that will issue the country’s currency. Thus, in 1850 the Swiss Franc (CHF) was announced as the monetary unit of the country by the Federal Coinage Act. In 1865 Switzerland entered the Latin Monetary Union and endorsed the gold standard until 2000. Meanwhile, in 1945 the CHF was pegged to the USD.
Freq Used: 20, 50, 100, 200, 500 francs Rarely Used: 10, 1,000 francs
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