Signs of franc (: Fr. or SFr. ; German: Franken , French and Romansh:
The smaller denominations, one hundredth of a franc, are Rappen (Rp.) In German, centime (c.) In French, centesimo ( ct.) in Italian, and rap (rp.) in Romansh. The ISO currency code used by banks and financial institutions is CHF , although Fr. is also widely used by businesses and advertisers; some use SFr. for Swiss Franc ; Latinate "CH" stands for Confoederatio Helvetica.
Given the different languages ​​used in Switzerland, Latin is used for the language's neutral stele on coins.
Video Swiss franc
Histori
Sebelum Republik Helvetic
Prior to 1798, about 75 entities making coins in Switzerland, including 25 cantons and half cantons, 16 cities, and monasteries, produced about 860 different coins in circulation, with different denominations, values ​​and monetary systems.
Mata uang Swiss lokal termasuk Thaler Basel, Berne Thaler, Fribourg gulden, Jenewa Thaler, Jenewa genevoise, Luzern gulden, NeuchÃÆ' ¢ tel gulden, St. Gallen Thaler, Schwyz gulden, Solothurn Thaler, Valais Thaler, dan ZÃÆ'¼rich Thaler.
Republik Swis untuk Regenerasi 1798-1847
In 1798, the Helvetic Republic introduced the franc, a currency based on Thaler Berne, divided into 10 batzen or centimes. Swiss franc equal to 3 / 4 pure silver gram or 1 1 / 2 French Franc.
This franc was issued until the end of the Helvetic Republic in 1803, but served as a model for the currency of some cantons in the Mediation period (1803-1814). 19 this cantonal currency is Appenzell frank, Argovia frank, Basel frank, Berne frank, Friborg frank, Geneva franc, Glarus frank, Graubönden frank, Luzern frank, St. Gallen frank, Schaffhausen frank, Schwyz frank, Solothurn frank, Thurgau honest, Ticino franco, Unterwalden frank, Uri frank, Vaud franc, and ZÃÆ'¼rich frank.
After 1815, the restored Swiss Confederation sought to simplify the currency system once more. In 1820, the total number of 8,000 different coins currently in Switzerland, issued by cantons, cities, monasteries, and kingdoms or nobles, was mixed with surviving coins from the Helvetic Republic and the pre-1798 Helvetic Republic. In 1825, the cantons of Berne, Basel, Friborg, Solothurn, Aargau, and Vaud formed the money of concordance, issued a standard coin, called Konkordanzbatzen, still carrying the insignia of the canton which dispenses, but is interchangeable and identical in value. The reverse side of the coin shows the Swiss cross with the letter C in the middle.
Franc of the Swiss Confederation, 1850-present
Although 22 cantons and half cantons issued coins between 1803 and 1850, less than 15% of the money circulating in Switzerland in 1850 was produced locally, with the rest being foreign, especially brought back by mercenaries. In addition, some private banks also started issuing the first banknote, so in total, at least 8,000 coins and different notes were circulating at the time, making the monetary system very complicated.
To solve this problem, the new Swiss Federal Constitution of 1848 stipulated that the federal government would be the only permitted entity to make money in Switzerland. This was followed two years later by the Federal Coinage Act passed by the Federal Assembly on May 7, 1850, which introduced the franc as a Swiss monetary unit. The franc was introduced equal to the French franc. This replaces a different currency from the Swiss canton, some of which have used francs (divided into 10 batzen and 100Ã, ;; sentimes ;;) which are worth 1 Ã, 1 / 2 French Franc.
In 1865, France, Belgium, Italy and Switzerland formed the Latin Monetary Union, where they agreed to appreciate their national currency by 4.5 grams of silver or 0.290322 grams of gold. Even after the monetary union faded in 1920 and officially ended in 1927, the Swiss franc remained at that standard until 1936, when he suffered a single devaluation, on 27 September during the Great Depression. The currency is evaluated by 30% after the devaluation of the British pound, US dollar, and French franc. In 1945, Switzerland joined the Bretton Woods system and pegged the franc to the US dollar for $ 1 = 4.30521 franc (equivalent to 1 franc = 0.206418 grams of gold). It was converted to $ 1 = 4.375 francs (1 franc = 0.203125 grams of gold) in 1949.
The Swiss franc has historically been regarded as a safe-haven currency with virtually zero inflation and a legal requirement that at least 40% be supported by gold reserves. However, links to this gold, dating from the 1920s, were suspended on 1 May 2000 after the referendum. In March 2005, following the gold sale program, the Swiss National Bank had 1,290 tons of gold in reserves equivalent to 20% of its assets.
In November 2014, a referendum on the "Swiss Golden Initiative" which proposed a 20% recovery of gold support for the Swiss franc was rejected.
2011-2014: Great movement and restrictions
In March 2011, the franc rose past the $ 1.10 mark (CHF 0.91 per US dollar). In June 2011, the franc rose above US $ 1.20 (CHF 0.833 per US dollar) as investors sought safety amid the ongoing Greek sovereign debt crisis. The continuation of the same crisis in Europe and the US debt crisis pushed the Swiss franc past US $ 1.30 (CHF 0.769 per US dollar) as of August 2011, prompting the Swiss National Bank to increase the liquidity of the franc in an effort to counter it "massive overvaluation". The Economist believes that the Big Mac Index in July 2011 showed an overstatement of 98% against the dollar and cited Swiss companies releasing profit warnings and threatening to move operations abroad due to the strength of the franc. Demand for francs and franc-denominated assets is so strong that Swiss short-term nominal interest rates are negative.
On September 6, 2011, when the exchange rate was 1.095 CHF/EUR and seemed to move towards parity with the euro, the SNB set a minimum exchange rate of 1.20 francs to the euro (franc's appreciation capping) saying "the franc value is a threat to economy ", and that" is ready to buy foreign currency in unlimited quantities ". In response to the franc's announcement fell against the euro, it became 1.22 francs from 1.12 francs and lost 9% against the US dollar within fifteen minutes. The surprising intervention of currency traders since the franc has long been considered a safe haven.
The franc fell 8.8% against the euro, 9.5% against the dollar, and at least 8.2% against all 16 most active currencies on the day of the announcement. It was the biggest decline in the franc that once fought the euro. The SNB had previously set the exchange rate target in 1978 against the Deutsche brand and maintained it, albeit at a high cost of inflation. As of mid-January 2015, the franc continues to trade below the target level set by the SNB, although the ceiling is broken at least once on April 5, 2012, albeit briefly.
End of limitations
On December 18, 2014, the Swiss central bank introduced a negative interest rate on bank deposits to support the CHF ceiling. However, with the value of the euro declining over the next few weeks, in a move dubbed Francogeddon due to its effect on the market, the Swiss National Bank left the ceiling on January 15, 2015, and the franc soon increased in value compared to the euro by 30%, although this only lasted a few minutes before part of the increase was reversed. The move was not announced before and resulted in "turmoil" in the stock and currency markets. At the close of trading that day, the franc was up 23% against the euro and 21% against the US dollar. The full franc daily range is equal to $ 31,000 per single futures contract (to positive if long, to negative if short), and over the market moves collectively in the previous thousand days. The main interest rate is also lowered from -0.25% to -0.75%, which means investors will pay an increased fee to deposit their funds in Swiss bank accounts. The euro's devaluation of the franc is expected to hurt Switzerland's large export industry. The Swatch group, for example, saw its shares fall by 15% (in Swiss francs) with announcements so that stock prices may rise on that day in terms of other major currencies.
The big and unexpected jump caused huge losses for some currency traders. Alpari, a Russian spread betting firm established in Britain, was declared bankrupt before announcing its intention to be acquired (and later denied by acquisition rumors) by FXCM. FXCM is redeemed by its parent company. Saxo Bank of Denmark reported a loss on January 19, 2015. New Zealand's NZ brokerage Broker Brokers announced that it "could no longer meet New Zealand regulatory capital minimum requirements" and stopped its business.
The media questioned the credibility of the ongoing Swiss central bank, and indeed the central bank in general. Using phrases such as "extend and pretend" to describe central bank exchange rate measures, Saxobank's chief economist Steen Jakobsen stated, "as a group, the central bank has lost credibility and when the ECB started QE this week, the beginning of the end for central bank will run well ". BT Investment Management's head of fixed income and fixed interest rates, Vimal Gor said, "the central bank is becoming increasingly impotent, and it has finally proved that central banks are unable to boost economic growth as they think it can." UBS expert on interest rate strategy, Andrew Lilley commented, "central banks can have inconsistent goals from one day to another".
Maps Swiss franc
Coins
Republican Helvetic Coins
Between 1798 and 1803, billon coins were issued in denominations of 1 centime, 1 / 2 batzen, and 1 batzen. Silver coins are issued for 10, 20 and 40 batzen, with 40-batzen coins also issued with denominations given as 4 francs. Gold coins of 16- and 32-francs were issued in 1800.
Coins from the Swiss Confederation
In 1850, coins were introduced in denominations of 1, 2, 5, 10, and 20 centimes and 1 / 2 , 1, 2, and 5 francs, with 1 and 2 centiments beaten in bronzes, 5, 10, and 20 centimes in billon (with 5% to 15% silver content), and franc denominations in.900 fine silver. Between 1860 and 1863, 0.800 fine silver was used, before the standard used in France 0.835 subtlety was adopted for all silver coins except 5 francs (remaining.900 fineness) in 1875. In 1879, the billon was replaced by cupronickel in 5 and 10 sentimes and with nickel in 20 centimeters. Gold coins in denominations of 10, 20, and 100 francs, known as Vreneli, circulated until 1936.
Both world wars have only a small effect on the Swiss currency, with brass and zinc coins temporarily removed. In 1931, the size of 5 franc coins was reduced from 25 grams to 15, with silver content reduced to 0.835 smoothness. The following year, nickel replaced cuprons in 5 and 10 centimeters.
In the late 1960s, commodity prices traded internationally increased significantly. The value of copper metal coins exceeds its monetary value, and many are sent abroad for smelting, which encourages the federal government to make this practice illegal. The law has little effect, and the disbursement of the franc only subsides when the collectible value of the remaining francs exceeds its material value.
The 1-centime coin was still produced until 2006, though in diminishing numbers, but its importance declined. Those who can justify the use of 1-centime coin for monetary purposes may obtain it at face value; Other users (such as collectors) should pay four cents per additional coin to cover production costs, which have exceeded the true face value of the coins for years. Coins fell into disuse in the late 1970s and early 1980s, but were only officially fully withdrawn from circulation and declared no longer valid means of payment on January 1, 2007. The old 2-centime coins were forgotten, not printed since in 1974, was democratized on January 1, 1978.
The design of coins has changed very little since 1879. Among the important changes are the new designs for 5-franc coins in 1888, 1922, 1924 (minor), and 1931 (mostly just size reductions). New designs for bronze coins were used since 1948. Coins depicting star rings (such as the 1-franc coin seen next to this paragraph) were changed from 22 stars to 23 stars in 1983; because the stars represent the Swiss canton, the design was updated when in 1979 the Jura broke away from the Bern Canton and became the 23rd canton of the Swiss Confederation.
The 10-centime coin from 1879 onwards (except 1918-19 and 1932-39) has the same composition, size and design until 2014 and is still a legitimate means of payment and is found in circulation.
All Swiss coins are a neutral language with respect to four Swiss national languages, showing only numbers, the abbreviation "Father". for francs, and the Latin phrase Helvetia or Confoederatio Helvetica (depending on the denomination) or inscription Libertas (Roman Goddess of Liberty) on small coins. The artist's name is on the coin with Helvetia and the shepherd stands.
In addition to these general circulation coins, many series of commemorative coins have been issued, as well as silver and gold coins. These coins are no longer legal tender, but in theory can be exchanged at face value at the post office, and in national and cantonal banks, even though their metal or collector's value is equal to or above their nominal value.
Banknote
In 1907, the Swiss National Bank took over the issuance of banknotes from the cantons and various banks. It introduces denominations of 50, 100, 500 and 1000 francs. The 20-franc note was introduced in 1911, followed by a 5-franc note in 1913. In 1914, the Federal Treasury issued banknotes in denominations of 5, 10, and 20 francs. These records are published in three different versions: French, German, and Italian. The State Loan Bank also issued a 25-franc note that year. In 1952, the national bank stopped issuing 5-franc notes but introduced the 10-franc notes in 1955. In 1996, a 200-franc note was introduced while the 500-franc note was stopped.
Eight series of banknotes have been printed by the Swiss National Bank, six of which have been released for use by the general public. The sixth series of 1976, designed by Ernst and Ursula Hiestand, describe people from the world of science. The series was withdrawn on May 1, 2000 and is no longer a valid payment instrument, but records are still redeemable for valid with the same nominal value in any branch of the National Bank or an authorized agent, or sent by post to the National Bank in return for the deposit Bank account. The exchange program will end on April 30, 2020, after which the sixth series record will lose all its value. By 2016, 1.1 billion francs six francs have not been exchanged yet, although they have not been a legitimate means of payment for 16 years and only four more years are left to redeem it. To avoid having to spend large sums of money by 2020, the Federal Council (Cabinet) and the National Bank proposed in April 2017 to remove the deadline on the exchange for the sixth and future withdrawal series; this proposal is still in the design stage of the bill in early 2018.
The seventh series was printed in 1984, but stored as a "backup series", ready to be used if, for example, the widespread falsification of the current series suddenly occurred. When the Swiss National Bank decided to develop new security features and abandon the concept of the backup series, details of the seventh series were released and the printed notes were destroyed.
The eighth series of banknotes currently designed by JÃÆ'¶rg Zintzmeyer are around the art theme and released starting in 1995. In addition to its new vertical design, this series is different from the previous one on some counts. Perhaps the most important difference from a practical point of view is that the rarely used 500-franc record is replaced with a new 200-franc note; this new record proved to be more successful than the old 500 franc records. The basic color of the new record is kept similar to the old one, except that the 20-franc note is changed from blue to red to prevent frequent confusion with the 100-franc note, and that the 10-franc note is changed from red to yellow. The tone size also changes, with all the tones from the eighth series having the same height (74 mm), while the width also changes, still increasing with the tone value. This new series contains more security features than ever before; many of them now look displayed and have been widely advertised, in contrast to the previous series of most of the features kept secret.
All banknotes are quadrilingual, displaying all information in four national languages. The banknotes describing the Germanophone have German and Romansch on the same side as the picture, while the banknotes depicting Francophone or Italophone people have French and Italian on the same side as the picture. Instead has two other languages.
When the fifth series lost its validity at the end of April 2000, the unsputtered banknotes represented a total value of 244.3 million Swiss francs; in accordance with Swiss law, this amount is transferred to the Swiss Fund for Emergency Losses in the Uninsured Natural Disaster Case.
- Swiss ninth franc series
In February 2005, a competition was announced for the ninth series design, scheduled to be released around 2010 with the theme "Swiss open to the world". The results were announced in November 2005, but the selected design attracted widespread criticism from the population. As a result, the release date has been repeatedly delayed. In February 2010, it was announced that the release will take place in 2012, and in December 2012 the date is granted as "the earliest 2015". In August 2015 it was announced that the new series will begin publishing in April 2016. The first denomination to be released is the 50-franc note, first published on April 12, 2016; the new 20-franc notes were followed on May 17, 2017, and the new 10-franc notes on October 18, 2017. Others will follow in semi-annual or annual intervals. The publication of the entire new series is scheduled to be completed by 2019.
Circulation
Swiss franc is the legal currency and payment instrument of Switzerland and Liechtenstein and is also a legitimate means of payment at the exclusive Italian Campione d'Italia. Although not officially legal tender in the German exclave BÃÆ'¼singen (the only currency of the law is the euro), it is a vast daily use there; prices quoted in Swiss franc. The Swiss franc is the only version of the franc that is still issued in Europe.
In March 2010, the total value of Swiss coins and banknotes released was 49.6640 billion Swiss francs.
Combinations of up to 100 circulating Swiss coins (excluding special coins or commemorative coins) are valid payment instruments; paper money is a legal means of payment for any amount.
Current exchange rate
See also
- Banking in Switzerland
- Swiss Economy
- Hard currency
- Iraqi Swiss Dinar, common name for old Iraqi currency but not related to Swiss currency.
- Liechtenstein franc
- Gold standard
Notes and references
Bibliography
External links
- (in German) CashFollow.ch, Swiss Franc Tracker
- (in German) Schweizer-Franken.ch, Information on Swiss Francs
- (in English) Swiss Banknotes, Swiss Franc: Banknote Catalog of 1907
- http://www.forexuklv.net/Major_Currency_Pairs/Chart_07.html - USD/CHF historical rate (from 1800 to present).
- http://www.forexuklv.net/Major_Currency_Pairs/Chart_01.html - historical chart of USD/CHF (from 1800 to present).
- (in English) (in German) Swiss Banknotes
Source of the article : Wikipedia
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