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Swiss Franc (CHF) | Currency Rates and Info | XS

Learn about the Swiss Franc (CHF), its symbol Fr., and its role as the official currency of Switzerland. Get currency info, exchange rates, and detailed insights.

Overview

The Swiss Franc (CHF) is the official currency of Switzerland and Liechtenstein. It is divided into 100 centimes (French), Rappen (German), or centesimi (Italian). The franc is a free-floating currency and is widely considered one of the world’s strongest and most stable currencies.

Role in the Economy

Economic Position: Switzerland has one of the highest GDP per capita levels in the world and is known for its financial stability.
Key Drivers: The economy is driven by banking, pharmaceuticals, precision instruments, and luxury goods.
Global Trade: The franc is a safe-haven currency, often in demand during times of global economic uncertainty.
Memberships: Switzerland is a member of the WTO, IMF, OECD, and EFTA (but not the EU).
Imports and Exports: Imports include machinery, chemicals, and vehicles. Exports are led by pharmaceuticals, watches, financial services, and machinery.
Economic Outlook: The franc remains strong, supported by conservative fiscal policies and the credibility of the Swiss National Bank.

Historical Background

The Swiss Franc was introduced in 1850, replacing various regional currencies. It was originally backed by gold and silver and has maintained a reputation for strength and stability ever since. Although Switzerland has experienced periods of intervention to limit franc appreciation, the currency continues to be one of the most trusted globally.