Swiss Franc

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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 ?
The loan agreement in Swiss francs was signed by the plaintiffs' lawyer, to whom they had ceded power of attorney.
Around 150,000 families still owe around e1/429 billion of Swiss franc debt, with four per cent of loans due within a year.
Costs for restructuring increased by 252 million Swiss francs due to a non-recurring, one-time income effect in the 2013 IFRS results.
which collapsed in August after losses mounted and funding dried up, has four Swiss franc bonds that were sold from 2012 to 2014 to help fund lending.
66 percent of all credits in the country are tied to the Swiss franc.
The Bank would undertake foreign-exchange swaps in which it would sell Swiss francs spot and repurchase them forward.
This saw the euro surge by over 9% against the Swiss franc and sterling jump by over 8% in around 10 minutes.
Although not all of the assets managed by Swiss banks are held in Swiss francs, the existence of vast holdings within the Swiss banking market indicates the important role that Switzerland maintains in global finance.
Orascom, whose main presence is in Egypt, said its total consolidated revenues fell to 380 million Swiss francs from 416 million francs a year earlier.
The proposed dividend will be denominated in Swiss Francs.
October 30, 2007: USS reports a third-quarter pre-tax less of 726 million Swiss francs, its first quarterly loss in nine years.
AILING Swiss banking giant UBS today announced plans to cut 8,700 jobs as it braced investors for first-quarter losses of almost 2 billion Swiss francs (pounds 1.

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