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 Polish parliament is considering a bill to help Swiss franc borrowers, Reuters has said.
The global wealth management unit's pretax profit fell 41% from last year to 557 million Swiss francs on low transaction volumes, as revenue weakened 16% to 1.
The loan agreement in Swiss francs was signed by the plaintiffs' lawyer, to whom they had ceded power of attorney.
8 billion Swiss franc (about Rs 12,615 crore), amid an enhanced clampdown against the famed secrecy wall of Switzerland's banking system by Indian and other governments.
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.
5 billion Swiss francs in annual costs by the end of 2015.
When the Bank entered into these swap agreements, it immediately bought foreign exchange with francs under a promise to sell the foreign exchange back to the market for Swiss francs at a specific future date.
Unveiling its half-year losses in July, UBS claimed that the botched stock market listing of social networking giant Facebook cost it 349m Swiss francs (PS227m).
As per the data from the Swiss National Bank, quantum of funds held by Indians in Swiss banks had last increased in 2006 by about one billion Swiss francs to 6.

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