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 ?
So by the end of 2008, Qatar had paid roughly 4.1 billion Swiss francs for a 10 percent shareholding in Credit Suisse, amounting to an average price of around 41 Swiss francs per share.
Given its geographical proximity to various members of the European Union (EU) and economic ties to its neighbors, increased scrutiny has been directed at the likelihood of Switzerland joining the EU, as well as the possible future of the Swiss franc, vis-a-vis, the Euro.
March 11, 2009: UBS publishes its full-year report, with revised 2008 figures to reflect an additional net loss of more than 1 billion Swiss francs, for a total 2008 full-year net loss of 20.9 billion Swiss francs, and predicts tough times ahead.
Swiss Re wrote down nearly 6 billion Swiss francs ($5.2 billion) in 2008, almost all of which resulted from credit default swap and other trading losses.
Net profit, including a 1.3 billion Swiss francs gain on the sale of a South African investment, climbed to 4.54 billion Swiss francs (pounds 2.1 billion) from 2.71 billion Swiss francs (pounds 1.27 billion), also managing to beat forecasts.
The Serie A side have been ordered to pay 70,000 Swiss francs (pounds 32,350)after missiles were thrown onto the pitch.
Hertha Berlin were fined 10,000 Swiss francs (pounds 4,314) for unsporting loudspeaker announcements and the setting-off of Bengal lights during their UEFA Cup match with Aberdeen on October 1.
dollars into Swiss francs. As such, he had to determine the cost in dollars of the purchase and sales prices based on the prevailing exchange rates at the time of each transaction.
Finalist prize for 2 awardees of 1,000 Swiss Francs
Ting points out that L3, for an experiment at a foreign laboratory, has a "heavy American involvement." The United States is contributing 45 million Swiss francs ($18 million) toward the cost of L3.
CAIRO - 27 March 2018: The Swiss authorities have handed Egypt a total of 33.8 million Swiss francs ($24.2 million) from Egyptian steel tycoon Ahmed Ezz's blocked bank accounts after he reached reconciliation with the Egyptian government, Anthony Brovarone, spokesperson for the Swiss Federal Prosecution, told NZZ am Sonntag newspaper on Saturday.

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