Swiss franc - information about the currency
According to the international standard ISO 4217, it is referred to as CHF, but you can meet the abbreviations Fr or SFr. The Swiss franc, despite the fact that it is valid in only two countries, is considered to be one of the most important currencies in the world. This is due to the CHF exchange rate, which is known for its high stability. When the eurozone was in crisis in 2008, the franc's position significantly strengthened. The Swiss franc is the official legal tender in Switzerland and Liechtenstein. CHF is divided into 100 cents or 100 rappens. There are CHF coins in circulation in denominations of 5, 10, 20 cents and ½, 1, 2 and 5 francs. The franc coins show the figure of a woman - Helvetia, which is a symbol of Switzerland. The smaller coin denominations, or centimes, represent Libertas, the Roman goddess of freedom. CHF banknotes are available in denominations of 10, 20, 50, 100, 200 and 1000 francs, and are characterized by bright and vivid colors, as well as the fact that they are the only banknotes in the world to be designed vertically. The obverses of the Swiss franc feature prominent Swiss personalities, while the reverse sides feature discoveries or symbols related to them. In 2016-2019, the Swiss Bank introduced new francs, which have additional security features that effectively protect against counterfeiting. The Swiss franc exchange rate is one of the most important exchange rates around the world - it is considered by many to be the so-called safe haven. The CHF exchange rate is relatively stable, thanks to which investors are interested in this currency in uncertain times. Exchange rates, including the franc, depend on many factors and may fluctuate, as it is influenced by, among other things, the current policy of the Swiss government. The current franc exchange rate can be tracked very quickly and you can exchange your money at the most favorable time.
Swiss franc - currency history
The Swiss Franc doesn't have a very long history as its origins date back to the turn of the 18th and 19th centuries. Officially, the franc was introduced in 1850 and replaced the local currencies of various values of various origins, which were issued by several dozen independent entities. Only one entity, i.e. the Central Bank, was granted the right to issue the franc. The Swiss National Bank is responsible for decisions affecting the exchange rate of the Swiss franc and monetary policy in Switzerland. An interesting piece of information is that the Swiss franc was convertible into gold for many years, but it was abolished by the Swiss Central Bank in 2000.