The Swiss Franc is the official currency of Switzerland. The most popular exchange rate in the forex market with the Swiss Franc is EURCHF, which is the exchange rate of the euro against the franc.
The international code (ISO 4217) with which the Swiss Franc is recognized throughout the world is CHF, which also serves as a reference symbol together with a rarer Fr.
Below you will find information and the history of the Swiss Franc, as well as the latest updated analysis on the currency and its performance.
The Importance of the Swiss Franc
The Swiss Franc has the reputation of being a safe haven and a stable and strong currency; it is often purchased during periods of financial uncertainty due to its reliability and stability.
Regularly used as a reserve currency, the Swiss Franc is the sixth most traded currency in the world. All Swiss franc banknotes are printed in the four national languages of Switzerland: German, Romansh, French and Italian.
The Swiss National Bank (SNB) issues Swiss franc banknotes, while the Swiss mint issues coins.
History of the Swiss franc
Before the Helvetic Republic was founded, over 860 different coins were in circulation in Switzerland. The franc was introduced in 1798 and was used until 1803 along with other foreign currencies. During this period, the currency system was complex, with over 8,000 different coins and banknotes in circulation.
Thanks to the Federal Coinage Act, all currencies were replaced by the Swiss franc, which was introduced at par with the French franc in 1850. Switzerland adopted the gold standard in 1865 as a member of the Latin Monetary Union, maintaining it legally until 2000.
Following a progressive appreciation of the Swiss franc against the Euro, which had brought the EURCHF exchange rate from 1.59 (August 2008) to 1.03 (August 2011), the SNB decided to set a minimum rate of 1.20, committing itself to defending the floor on the exchange rate.
On January 15, 2015, in a shock decision with severe consequences on the Forex market, the Swiss National Bank announced the elimination of the floor on the euro-Swiss franc exchange rate.
Swiss franc in brief |
| Name: Swiss Franc |
| Symbol: CHF, cents: Rp. |
| ISO 4217 code: CHF |
| Most popular exchange rate: EURCHF |
| Coins: CHF1, CHF2, CHF5, 5Rp., 10Rp., 20Rp., 50Rp. |
| Banknotes: CHF10, CHF20, CHF50, CHF100, CHF200, CHF1000 |
| Central bank: Swiss National Bank |
| Website: www.snb.ch |
