Swiss Franc


Also found in: Dictionary, Thesaurus, Acronyms, Encyclopedia, Wikipedia.

Swiss Franc

The currency of Switzerland. Although the first Swiss franc was used briefly at the end of the 18th century, the modern franc was introduced in 1850, replacing almost two dozen local currencies. Switzerland was a member of the Latin Monetary Union until its demise in 1927 and later belonged to the Bretton Woods System. Until 2000, at least 40% of the franc was required to be backed by gold. The Swiss franc is known for having almost no inflation and, for that reason, is considered a very safe currency for investment.
References in periodicals archive ?
During the commerce ministry's investigation of the complaint, the bank conceded it did not provide the plaintiffs pre-contractual information that the loan currency would be converted into Swiss francs.
With two-thirds of Swiss franc mortgages held domestically, we expect asset quality deterioration to be moderate, despite the significant exposure," Fitch said.
The Bank now viewed the Swiss franc as "massively overvalued" and a renewed downside threat to price stability (AR 2011, p.
The Swiss franc (internationally recognized as the CHF, from the Latin Confoederatio Helvetica franc) has been and continues to be a major international currency.
October 30, 2007: USS reports a third-quarter pre-tax less of 726 million Swiss francs, its first quarterly loss in nine years.
With dollar markets relatively lackluster through April, position takers tended to focus on movements of the European currencies against one another, particularly the British pound and Swiss franc relative to the mark.
Currently borrowers in Swiss franc have seen their loans inflate as a result of the Swiss franc gaining significant strength against the euro.
More than 60,000 Croats have Swiss franc loans, taken out in the mid-2000s as a cheaper alternative to other commercial loans.
Switzerland has abandoned the fixed rate of exchange against the euro whereupon the cost of the Swiss franc has soared by as much as 30 percent.
Reported sales in Swiss francs were 1 percent lower than the first half of 2013, as the US dollar, along with a number of Latin American currencies and the Japanese yen, have weakened against the Swiss franc.
Summary: The prospects for a rise in the value of the euro against the Swiss franc are brightening and a move back towards the year's high for the pair of 1.

Full browser ?