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SWISS FRANC - CHF

Todays Date : 05/24/2018

The Swiss franc, symbol CHF, code CHF, is the official currency of Switzerland, as well as Liechtenstein, and the Campione d’Italia in Italy. The Swiss franc is also in use in German Büsinger. Switzerland is a nation of four official languages, and thus the franc is also referred to as the Franken in German and the franco in Italian. As of 2010, the Swiss franc was the 6th most traded currency in the world, accounting for 6.4% of the world’s daily share. The Swiss National Bank in Zurich is the central bank of Sweden. 

In 1798, the Helvetic Republic introduced the Berne thaler, the first unified Swiss currency, equal to 1.5 French francs, enjoying use through the end of power of the Helvetic Republic in 1803. The Swiss Federal Constitution of 1848 made is so that the Swiss federal government was the only legal minting body. The First Federal Coinage Act designated the cranc as the official monetary unit of Switzerland. In 1865, Switzerland joined France, Belgium, and Italy to form the Latin Monetary Union in which all valued their national currency equal to 4.5 grams of silver, a system which endured until 1927. The first Swiss franc banknotes were produced in 1907 by the Swiss National Bank in values of 50, 100, 500, and 1,000 franc paper notes. In 1945 Switzerland joined the Bretton Woods System, pegged to the US dollar at 1 US dollar equal to 4.30521 francs, and then equal to 4.37 francs in 1947.

Beginning in 2011, the Swiss franc experienced massive appreciation to the point of overvaluation, moving above the CHF 0.833 and then CHF 0.769 equal to 1 US dollar marks. September 2011 saw the Swiss National Bank set a minimum exchange of 1.20 francs to the euro, and in response, the franc fell 8.8% against the euro and lost 9.5% against the US dollar within that very day. 

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Currency Quick Facts

Name: Swiss franc

Symbol: CHF

Code: CHF

Decimal Unit: 1/100th rappen (German), centime (French), centesimo (Italian), rap (Romansh)

Nicknames: Franken (German); franco (italian)

Coins: 5, 10, 20 rappen; 0.5, 1, 2, 5 francs

Notes: 10, 20, 50, 100, 200, 1,000 francs

Central Bank: Swiss National Bank

Country(ies): Switzerland 

Currency Characteristics

The Swiss franc is the last remaining franc still in use in Europe today. Swiss franc banknotes feature text written in Latin, so as to remain language-neutral to the country’s four official national languages. Current notes were designed by Joord Zintzmeyer, and feature different colors for each denomination of value. Swiss franc banknotes are also sized ascendingly according to value. Important Swiss figures are featured on the front of all notes. 

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