Currency - Swiss franc

Currency  >  Swiss franc

Swiss franc

Fr
The franc (Franken, French and Romansh: franc, franco; sign: Fr. or SFr.; code: CHF) is the currency and legal tender of Switzerland and Liechtenstein; it is also legal tender in the Italian exclave Campione d'Italia. The Swiss National Bank (SNB) issues banknotes and the federal mint Swissmint issues coins.

The smaller denomination, a hundredth of a franc, is a Rappen (Rp.) in German, centime (c.) in French, centesimo (ct.) in Italian, and rap (rp.) in Romansh. The ISO code of the currency used by banks and financial institutions is CHF, although Fr. is also widely used by businesses and advertisers; some use SFr. for Swiss Franc and to a lesser extent Fr.sv. The Latinate "CH" stands for Confoederatio Helvetica.

Given the different languages used in Switzerland, Latin is used for language-neutral inscriptions on its coins.

Before 1798, about 75 entities were making coins in Switzerland, including the 25 cantons and half-cantons, 16 cities, and abbeys, resulting in about 860 different coins in circulation, with different values, denominations and monetary systems.

The local Swiss currencies included the Basel thaler, Berne thaler, Fribourg gulden, Geneva thaler, Geneva genevoise, Luzern gulden, Neuchâtel gulden, St. Gallen thaler, Schwyz gulden, Solothurn thaler, Valais thaler, and Zürich thaler.

In 1798, the Helvetic Republic introduced the franc, a currency based on the Berne thaler, subdivided into 10 batzen or 100 centimes. The Swiss franc was equal to 6 3⁄4 grams of pure silver or 1 1⁄2 French francs.

This franc was issued until the end of the Helvetic Republic in 1803, but served as the model for the currencies of several cantons in the Mediation period (1803–1814). These 19 cantonal currencies were the Appenzell frank, Argovia frank, Basel frank, Berne frank, Fribourg frank, Geneva franc, Glarus frank, Graubünden frank, Luzern frank, St. Gallen frank, Schaffhausen frank, Schwyz frank, Solothurn frank, Thurgau frank, Ticino franco, Unterwalden frank, Uri frank, Vaud franc, and Zürich frank.

After 1815, the restored Swiss Confederacy attempted to simplify the system of currencies once again. As of 1820, a total of 8,000 distinct coins were current in Switzerland: those issued by cantons, cities, abbeys, and principalities or lordships, mixed with surviving coins of the Helvetic Republic and the pre-1798 Helvetic Republic. In 1825, the cantons of Berne, Basel, Fribourg, Solothurn, Aargau, and Vaud formed a monetary concordate, issuing standardised coins, the so-called Konkordanzbatzen, still carrying the coat of arms of the issuing canton, but interchangeable and identical in value. The reverse side of the coin displayed a Swiss cross with the letter C in the center.

Although 22 cantons and half-cantons issued coins between 1803 and 1850, less than 15% of the money in circulation in Switzerland in 1850 was locally produced, with the rest being foreign, mainly brought back by mercenaries. In addition, some private banks also started issuing the first banknotes, so that in total, at least 8000 different coins and notes were in circulation at that time, making the monetary system extremely complicated.

To solve this problem, the new Swiss Federal Constitution of 1848 specified that the federal government would be the only entity allowed to issue money in Switzerland. This was followed two years later by the first Federal Coinage Act, passed by the Federal Assembly on 7 May 1850, which introduced the franc as the monetary unit of Switzerland. The franc was introduced at par with the French franc. It replaced the different currencies of the Swiss cantons, some of which had been using a franc (divided into 10 batzen and 100 centimes) which was worth 1.5 French francs.

Country

Liechtenstein

Liechtenstein, officially the Principality of Liechtenstein (Fürstentum Liechtenstein), is a doubly landlocked German-speaking microstate in Alpine Central Europe. The principality is a constitutional monarchy headed by the Prince of Liechtenstein.

Liechtenstein is bordered by Switzerland to the west and south and Austria to the east and north. It is Europe's fourth-smallest country, with an area of just over 160 km2 and a population of 37,877. Divided into 11 municipalities, its capital is Vaduz, and its largest municipality is Schaan. It is also the smallest country to border two countries.

Switzerland

Switzerland, officially the Swiss Confederation, is a country situated in western, central and southern Europe. It consists of 26 cantons, and the city of Bern is the seat of the federal authorities. The sovereign state is a federal republic bordered by Italy to the south, France to the west, Germany to the north, and Austria and Liechtenstein to the east. Switzerland is a landlocked country geographically divided between the Alps, the Swiss Plateau and the Jura, spanning a total area of 41285 km2 (land area 39997 km2). While the Alps occupy the greater part of the territory, the Swiss population of approximately 8.5 million people is concentrated mostly on the plateau, where the largest cities are to be found: among them are the two global cities and economic centres Zürich and Geneva.

The establishment of the Old Swiss Confederacy dates to the late medieval period, resulting from a series of military successes against Austria and Burgundy. Swiss independence from the Holy Roman Empire was formally recognized in the Peace of Westphalia in 1648. The country has a history of armed neutrality going back to the Reformation; it has not been in a state of war internationally since 1815 and did not join the United Nations until 2002. Nevertheless, it pursues an active foreign policy and is frequently involved in peace-building processes around the world. In addition to being the birthplace of the Red Cross, Switzerland is home to numerous international organisations, including the second largest UN office. On the European level, it is a founding member of the European Free Trade Association, but notably not part of the European Union, the European Economic Area or the Eurozone. However, it participates in the Schengen Area and the European Single Market through bilateral treaties.

Language

Swiss franc (English)  Franco svizzero (Italiano)  Zwitserse frank (Nederlands)  Franc suisse (Français)  Schweizer Franken (Deutsch)  Franco suíço (Português)  Швейцарский франк (Русский)  Franco suizo (Español)  Frank szwajcarski (Polski)  瑞士法郎 (中文)  Schweizisk franc (Svenska)  Franc elvețian (Română)  スイス・フラン (日本語)  Швейцарський франк (Українська)  Швейцарски франк (Български)  스위스 프랑 (한국어)  Sveitsin frangi (Suomi)  Franc Swiss (Bahasa Indonesia)  Šveicarijos frankas (Lietuvių)  Schweiziske franc (Dansk)  Švýcarský frank (Česky)  İsviçre frangı (Türkçe)  Швајцарски франак (Српски / Srpski)  Šveitsi frank (Eesti)  Švajčiarsky frank (Slovenčina)  Svájci frank (Magyar)  Švicarski franak (Hrvatski)  ฟรังก์สวิส (ไทย)  Švicarski frank (Slovenščina)  Šveices franks (Latviešu)  Ελβετικό φράγκο (Ελληνικά)  Franc Thụy Sĩ (Tiếng Việt) 
 mapnall@gmail.com