Swiss Franc Swiss currency: exchange, rate

Due to frequent changes on the geopolitical map of the world, many people are already confused about which country belongs to which union. Moreover, not everyone knows what currency people use in this or that country. For example, some still doubt the currency in Switzerland today. Since this country is a member of the European Union, then the currency there must be euro. But is it really so? It turns out, no.

Money in Switzerland

For years, money in this country has remained unchanged and is called the "Swiss franc". Banknotes are issued by the Swiss National Bank, and coins are minted by the Swiss Mint. To date, this is the only currency in a united Europe called the "franc".

Unlike other states, Switzerland has several state languages. So the Swiss currency is officially called in four languages. It looks like this:

• Franco - in Italian;
• Franken - in German;
• Franc - in Romansh and French.

Small money also has a different name. One franc is:

• 100 rappen (rappen) - in German;
• 100 centesimo - in Italian;
• 100 rapps (rap) - in the Romansh;
• 100 centimes (centime) in French.

The Swiss currency is coded in Latin letters CHF, ISO code is 756 or 4217. It is noteworthy that the symbols sFr, ₣, Sfr, FS, SF or Fr are used to denote currency inside the country.

Historical digression

As an independent currency, the Swiss franc appeared on this territory in 1850. He replaced the ragged money that "went" in the cantons (the administrators of the country) until this time. Some cantons have already applied francs - the national money of France. In order to avoid chaos and to unify the currency, the Swiss Constitution in 1848 made a special reservation. The management of Switzerland can solely print and coin money in the territory of the state. After that, the Swiss franc, issued on May 7, 1850, was declared a single currency.

In total, 8 series of banknotes were printed. The latter - in the interval 1994-1998. The author of the design is Jorgan Zintzmaier. He dedicated it to the famous figures of the art world.

The Swiss franc rate has always been quite stable. He significantly shook only once, in late September 1936. Then the Swiss currency devalued by thirty percent.

Banknotes

To date, the Swiss National Bank issued bills of different dignity. They all have a different size, color and pattern. The Swiss Swiss currency has the parameters shown in the table.

It is noteworthy that all images on banknotes are located vertically, while the banknotes of most countries are horizontal. Swiss money is very colorful, executed on good paper and have all the necessary degrees of protection. Interestingly, the banknotes of the previous - the seventh - series, developed in 1983-1985, and remained only a project. They were not released into circulation and became standby.

New series of banknotes

Today in Switzerland a new wave of banknotes is being prepared for release, the 9th in a row. Her designer was Manuela Pfrunder. At first the deadline for the release of the new series was planned for 2010. But in order to develop a qualitative protection of banknotes, the event was delayed for two years. However, in February 2012, the National Bank of Switzerland again issued a statement. It referred to the availability of technical problems and the transfer of the start of production for at least a year. Then there was another delay. According to the latest information, a new series should be released in the period 2016-2019. As early as April 2016, 50 new Swiss francs went into circulation. But despite all the delays, a week later the new banknote revealed some shortcomings. So, most likely the Swiss currency will again go to completion.

Coins

Among the metal banknotes, 5 and 10 are minted here, as well as 20 rappen. Still there are metal 5, 2 and 1 Swiss franc, and also a coin in half of franc. On the "money" and it is written - 1/2. Smaller coins gradually disappear from circulation. The coinage in 1 centime was terminated ten years ago, and a coin of denomination of 2 rappen was stopped to be produced in 1974.

All Swiss coins have the correct round shape. Five-rappen coins are minted from the alloy Al, Ni and Cu. All the rest - from the compound Cu and Ni. On coins with denominations of 20, 10 and 5 Rappen, the head (in profile) of the goddess of freedom is depicted. On coins of 2 and 1 Swiss franc, it is present in full growth. The five-franc coin is decorated with the image of the Swiss national hero Wilhelm Tell.

On the reverse of all coins there is their denomination, as well as a wreath made of grapes or oak.

Currency exchange subtleties

The exchange of Swiss francs for any other currency can be done at specialized points, abundant throughout the country. You can also use the exchange service in any bank. But here you need to remember the time. Banks serve customers from 8:00 to 16:00. Some banking institutions are open until 18:00, but these are the exceptions. To exchange the Swiss franc against the dollar or another currency by means of an "exchanger" located near the railway station or the airport, it is possible from six in the morning until ten in the evening. And some exchange offices do work 24 hours a day.

If you wander around the city in search of an "exchanger" is not very desirable, you can exchange directly at the hotel (any). At the same time, the rate will not be too different from the bank rate. But it's best to change money before you come to Switzerland and that's why:

• The Swiss franc rate here is artificially high;
• The more unpopular currency you want to exchange, the less profitable the course will be; By the way, rubles is one of the least popular currencies in this country.

If you decide to cash out at an ATM, you can "withdraw" both the euro and the Swiss francs. Strangely enough, credit cards in this country are not very common. At least, in comparison with England or America. Nevertheless, the credit card can be paid in almost any public place: a shop, a restaurant, a hotel. But it is worth remembering that in Switzerland for credit cards is often set the lower limit of the amount that can be paid in this way. Most often this is 25-30 francs. This means that the amount less than the amount you set still have to pay in cash.

To date, you can exchange the Swiss franc against the dollar at the rate of 1 CHF = 1.03 USD, and to the euro - 1 CHF = 0.92 EUR.

Import of currency into the country and features of cash payments

Switzerland has no restrictions on the import and export of any foreign currency. This means that in the country you can import / export any money in any amount.

But there is an interesting detail. According to the decree of the Swiss government, since January 1, 2016 people who have paid out cash in excess of 100,000 francs are required to disclose their identity. In this way, money laundering is being combated in the country . A person who has decided to pay such a large purchase in cash, Confederation organizations are required to require an identity card. Moreover, the seller must keep a copy of the certificate with him. If there are doubts about the legality of the transaction and there are reasons to consider the acquisition of money-laundering, the vendor should report this fact to the employees of the Anti-Money Laundering Bureau.

Such a requirement applies only to entities engaged in entrepreneurial activities. Calculations between individuals are not subject to fixation.

Tax-free and VAT

VAT (value added tax) in Switzerland is adopted at 7.5%. This and other taxes are immediately included in the check when paying for services and buying goods. In this country there is one feature - the return of a part of VAT (VAT) upon leaving the country. To use the service, you need to take a special check in the store, which is issued upon presentation of the passport. The amount indicated in it must exceed 500 Swiss francs. In this case, when leaving the country, you need to contact the bank located at the airport. By submitting a passport and a special check for more than 500 CHF, you will receive about 80% of the VAT amount back.

Sometimes money is paid not at departure from the country, and hardly later. In this case, a special seal will be placed on the check. It will need to be mailed on arrival home, and money will be transferred to the card.

Some large Swiss shops can refund VAT directly on the spot in cash. You also need to show your passport.

Where does the Swiss franc "go"?

The currency we are considering is in circulation not only in Switzerland. It also has circulation in other places. Since 1924, the Swiss franc has been called the official currency of the kingdom of Liechtenstein. And here they are entitled not only to use francs in the calculations, but also to issue them into circulation (minted). An important feature of francs minted in this territory is that coins issued in the territory of Liechtenstein can only "walk" inside the kingdom itself. Therefore, the honorable right to issue coins is applied only in respect of jubilee francs.

Swiss francs are considered the official currency in another locality. This is Campione d'Italia. The fact is that although this exclave is officially located on Italian lands, it is surrounded by the territory of the canton of Tessin, which belongs to Switzerland. Therefore, the economy of Campione d'Italia is not related to Rome, which is not located close to Switzerland, but to Switzerland. This country provides residents of the exclave with telephone, postal services, hospital services, schooling and other. So Swiss money can be considered the official currency of these lands.