Swiss Franc
Currency

Introduction

Franc acts as a medium of exchange for many countries throughout the world. This is the official currency for France basically and also for Switzerland, Belgium, Burundi, Guinea, Rwanda, Democratic Republic of Congo, Djibouti, Union of Comoros as well as the CFA and Madagascar.

However, the currencies of these countries are depicted by different symbols, but share the same subunit ‘centime’. Swiss franc acquired its name from the Latin language that was taken from French coins meaning ‘the king of franks’.
Swiss franc is the dominant franc currency in operation and is official currency of Switzerland.

It is one among the five strongest currencies along with the US dollar, euro, Japanese yen and Great Britain pound. The currency and numeric codes are CHF and 756 as per the standards of ISO 4217. This currency was adopted in Switzerland in 1850 as a medium of exchange replacing other currencies of the Swiss cantons.

Current value

Swiss franc ranks among the five most important currencies in the world. The official currency code is CHF standing for Confoederatio Helvetica Franc, a Latin word denoting the Helvetians confederation.

The French franc was the strongest currency prior to 2002, but on its switching over to the euro this position was acquired by Swiss franc. The economy does not fit among the top five economies, but the currency of the country has a strong command owing to its demand and the banking system inviting the investors.

Owing to this, the principality of Liechtenstein has made it national currency as the Swiss franc.

Swiss franc earlier was with German deutsche mark, but now matches the euro.

The economy is conservative but stable, though the currency fluctuates due to external factors. However, Swiss franc is highly popular and the most demanded reserve currency in the globe.

Reserve currency

The Swiss Franc is the reserve currency around the world and now the value held as reserves ranks 5th or 6th position following the giants namely, the US Dollar, the euro, the Japanese Yen and the pound sterling.

Structure

The Swiss coins marked its introduction in 1850 and is subdivided into subunit with 1 franc = 100 centimes. The coins are identical in appearance as 1880s, but with minor changes.

The front side of the coin depicts a majestic lady figure with 23 stars ring denoting 23 cantons. The Swiss bank notes came in 1907 and till date 8 series have been printed and 6 have been released for use.