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 ?
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 US dollar will be well propped up against the Swiss franc, 0.
The conclusion will focus on what can be expected with respect to the future position of Switzerland and the Swiss franc in global finance.
October 30, 2007: USS reports a third-quarter pre-tax less of 726 million Swiss francs, its first quarterly loss in nine years.
Despite the fact that Swiss Re's stock was trading at historic lows in February, Berkshire Hathaway again stepped in with a 3 billion Swiss franc ($2.
Nevertheless, the exchange rate of the Swiss franc against the euro has remained fairly stable.
But in mid-February, when expectations for an early ease in German monetary policy waned, the Swiss franc began a sharp decline against the mark, prompting heavy intervention by the Swiss authorities and an eventual rise in Swiss interest rates that exceeded any comparable rise in German rates.
Global Banking News-October 13, 2016--Polish PM says restrictive Swiss franc loan bill unlikely
In the last quarter, the lender was hit with turbulent market conditions, a drop in oil prices and a strong Swiss franc, all helping to drive a fourth quarter pretax loss of 6.
Swiss franc denominated loans started blooming in Cyprus in 2006, when the Republic was a candidate for euro area membership.

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