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CHF - Swiss Franc



The Helvetic Republic is what brought order and rule to Switzerland in 1798. Prior to the Helvetic Republic, there were over 75 entities manufacturing and issuing currency in Switzerland. The result was nearly 900 different coins being circulated that had a different value from city to city. In 1798, the Helvetic Republic unified the Swiss currency using the French franc as a model.

In 1803, the Helvetic Republic ended and so did its version of the franc. But the idea behind the franc remained in Switzerland for many decades. When the Helvetic Republic ended, the flow of different kinds of currencies started up again. Each region and, in some cases, cities within Switzerland started to mint their own currency. When the currency being brought in from foreign countries was taken into account, it was estimated that there were over 8,000 different kinds of coins being used as currency in Switzerland from 1803 to 1850.

In 1848, Switzerland moved towards a policy of unity and adopted the Swiss Federal Constitution. In this constitution, it was stipulated that only the federal government was allowed to mint currency for Switzerland. To help develop a unified system of currency, the Swiss Federal Coinage Act of 1850 declared that the franc would be the official currency of Switzerland. As with the Helvetic Republic, this version of the franc would be based on the French franc with the Swiss franc being given sub-denominations of 10 batzen and 100 rappen.

In 1945, Switzerland tied its franc's value to the value of the American dollar through the Bretton woods system. The franc's value itself was tied to its composition of gold and silver. But the value on the international market is tied to the performance of the US dollar and the Euro.

Currency Profile

The currency used by the Switzerland is known as the Swiss Franc. The currency symbol for the Swiss Franc is CHF, while the currency code is CHF.

Since so many neighboring countries use the Swiss franc, it has developed a lot of nicknames. Some of the more common money nicknames for the Swiss franc include Stutz, Frankler, Liiber, Balle and the Thune.

The Swiss franc is the primary currency in Switzerland and the neighboring country of Lichtenstein. The Swiss National Bank (SNB) issues banknotes and the federal mint Swissmint issues coins.Switzerland is not one of the 17 nations of the Eurozone. The ISO 4217 code for the Swiss franc is CHF. It has a sub-denomination of 1/100 that goes by several names including Rappen, centime and rap.

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