Swiss Franc (CHF) Exchange Rates on 28th January 2020 (28/01/2020)
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Exchange rates for Swiss Franc (CHF)
| Updated: 2020-01-28 | |||||||||
| Convert from | Convert to | 1 CHF | Conversion | in currency | Conversion | ||||
 CHF |
 GBP |
0.79 | CHF to GBP | 1.2658 | GBP to CHF | ||||
| CHF |
 BGN |
1.8279 | CHF to BGN | 0.5471 | BGN to CHF | ||||
| CHF |
 HRK |
6.9571 | CHF to HRK | 0.1437 | HRK to CHF | ||||
| CHF |
 CZK |
23.6101 | CHF to CZK | 0.0424 | CZK to CHF | ||||
| CHF |
 DKK |
6.9859 | CHF to DKK | 0.1431 | DKK to CHF | ||||
| CHF |
 EEK |
0 | CHF to EEK | 0 | EEK to CHF | ||||
| CHF |
 HUF |
315.3168 | CHF to HUF | 0.0032 | HUF to CHF | ||||
| CHF |
 KZT |
392.6521 | CHF to KZT | 0.0025 | KZT to CHF | ||||
| CHF |
 LVL |
0.6231 | CHF to LVL | 1.6049 | LVL to CHF | ||||
| CHF |
 LTL |
3.0415 | CHF to LTL | 0.3288 | LTL to CHF | ||||
| CHF |
 MKD |
57.5933 | CHF to MKD | 0.0174 | MKD to CHF | ||||
| CHF |
 MDL |
18.1886 | CHF to MDL | 0.055 | MDL to CHF | ||||
| CHF |
 NOK |
9.4117 | CHF to NOK | 0.1063 | NOK to CHF | ||||
| CHF |
 PLN |
3.9985 | CHF to PLN | 0.2501 | PLN to CHF | ||||
| CHF |
 RON |
4.4693 | CHF to RON | 0.2237 | RON to CHF | ||||
| CHF |
 RUB |
64.7344 | CHF to RUB | 0.0154 | RUB to CHF | ||||
| CHF |
 SKK |
0 | CHF to SKK | 0 | SKK to CHF | ||||
| CHF |
 SEK |
9.9139 | CHF to SEK | 0.1009 | SEK to CHF | ||||
| CHF |
CHF |
1 | CHF to CHF | 1 | CHF to CHF | ||||
| CHF |
 TRY |
6.1215 | CHF to TRY | 0.1634 | TRY to CHF | ||||
| CHF |
 UAH |
25.3517 | CHF to UAH | 0.0394 | UAH to CHF | ||||
Swiss Franc (CHF)
Sign CHF
1 Swiss Franc is subdivided into 100 Rappen (German), centime (French), centesimo (Italian), and rap (Romansh).
CHF is the currency code for the Swiss Franc which is the official currency of both Switzerland and Liechtenstein, is legal tender in both of these countries and Campione d'Italia. The CHF is the sixth most traded currency and is the fifth most widely held reserve currency in the world. While there is no official symbol for the franc, the official accounting abbreviation is "Fr" or "SFr". The "CH" in the currency code references the Latin term Confoederatio Helvetica which can be translated as Swiss Confederation, denoting the structure of Switzerland as a confederation of 26 different states or cantons.
Coins used:
5 rappen, 10 rappen, 20 rappen, 0.5 francs, 1 franc, 2 francs, 5 francs
Banknotes used:
10, 20, 50, 100, 200, 1,000 francs
Central Bank
Swiss National Bank
http://www.snb.ch
Throughout history there have been many currencies denominated in Francs throughout Europe but at this time the Swiss franc is the only franc in circulation. Monetary policy and issuance of the Swiss franc is managed by the Swiss National Bank which is owned both by the government and through publicly traded shares of interest available for purchase by private individuals. The public portion of ownership encompasses 55% of the total shares and is primarily owned by cantons, the 26 member states of Switzerland, and the 24 cantonal banks, regional specific Swiss member state owned commercial banks.
As a central bank the primary mandate of the Swiss National Bank is to serve the best interest of Switzerland, which has been interpreted as a primary focus on price stability, but not at the expense of the economic environment as a whole. The specific Swiss National Bank monetary policy at this time is keeping the Swiss consumer price index increasing at a rate below 2% and keeping the 3 month risk free rate of return in Swiss francs equal to the LIBOR. No discussion of the CHF should be without brief mention of the controversy over ownership of the Swiss National Bank gold reserves. Now listed at 1145 metric tons (each ton at 2204.6 pounds) there is currently and will always remain an issue as to the amount of gold the Swiss National Bank held for the Nazi's during World War II. This gold having been acquired through German conquest and theft. There is no legitimate tracing mechanism nor potential the Swiss national bank would have to return the gold, but it is a critical piece of Swiss National Bank history that anyone must know exists in order to remain culturally literate on the Swiss National Bank.
Though the Swiss National Bank has stated targets of price stability, their actions have shown they are willing to forego price stability, even at the expense of high inflation, if necessary in order to maintain a specific foreign exchange rate. This had been the case from 1978 through 2011, but in 2011 the Swiss National Bank, in an unprecedented announcement and unanticipated move, issued a statement that the current exchange rate with the euro was getting too high and that it was threatening the stability of the Swiss economy, therefore the Swiss National Bank was willing to purchase an unlimited amount of foreign currency to rectify the problem. This statement shocked currency markets and lead to a single day impact of reducing the CHF against the EUR by 8.8%, the USD by 9.5% and an average of 8.2% against sixteen other major currencies. This surprise move by the Swiss National Bank has forced currency traders worldwide into re-evaluating the traditionally accepted thought of the CHF as a safe haven currency. Historically the CHF was considered by most as a safe haven given the Swiss National Bank's focus on low inflation and its policy of backing the CHF with 40% gold reserves. Even thought this reserve requirement was eliminated in 2000 and the bank held a gold sell off reducing reserves to 20%, the historic acceptance of the CHF as a safe haven remained.
Though this Swiss National Bank historic announcement and action caught many by surprise, in hindsight it was not without warning. The move was precipitated by the rapid increase in value of the CHF in 2011. In March 2011 the CHF had already gained significant value from demand by investors seeking a safe haven from the growing Greek and worldwide debt crisis. By June 2011 the CHF increased another 10% and by August 2011 another 10%. This was leading to a liquidity crisis in Switzerland where corporations were credibly making plans to move their operations out of the country and interest rates amazingly turned negative. This was an unacceptable situation to the Swiss National Bank and posed a lot of over-valuation risk to the CHF in addition to the challenges of liquidity throughout the economy. As a result the Swiss National Bank took its unprecedented move on September 6, 2011 when they made their historic announcement. This scenario is critical in understanding the CHF and all currencies, knowing that history will not always determine future actions and mounting pressures can force the hand of even the most stable of currencies creating dire consequences for all invested in the underlying currency markets.
The franc itself is also known as the franken or franco and at one time was denominated in as small as 1/100ths of a franc. These 1/100ths of a franc are known as a Rappen (Rp), centime (c0), centismo (ct) or rap (rp) with the most common Swiss usage being Rappen (Rp). Currently, the smallest fraction of a franc coin produced by the Swiss Mint and in circulation is the 5 rappen with the 1 rappen coin no longer produced after 2006. The largest coins in circulation are valued at 1, 2, and 5 francs. Paper banknotes issued by the Swiss National Bank range from 10 francs through 1000 francs. A unique characteristic of the CHF banknotes is that they are all quadrilingual, they include information about the note in four different languages, German, French, Italian, and Romansh, all of which are official languages within Switzerland. This homogenization of the franc has occurred over eight different nationwide revisions to the banknotes and reflects the multicultural history of the CHF and the Helvetic republic from 1798, later re-established in 1850 as the Swiss confederation.
Other References
Wikipedia article on Swiss Franc
XE.com Live Currency Converter for CHF
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