What is the local currency in Switzerland?
Post ByAdequate Travel
Summary
The Swiss Franc is the official currency of Switzerland, and is an increasingly popular choice for global investments. In this blog, we’ll explore its history, its relationship to the Euro, and some of the advantages of using the Swiss Franc in Switzerland.Local Currency in Switzerland: Swiss Franc (CHF)
1. Overview:
The local currency used in Switzerland is the Swiss Franc (CHF). It has been the official currency of Switzerland since 1850. The denomination of the Swiss Franc consists of banknotes and coins.
2. Banknotes:
- Banknotes in Switzerland come in denominations of 10, 20, 50, 100, 200, and 1,000 Swiss Francs. Each banknote features prominent Swiss personalities, landmarks, or symbols.
- For example, the 10 CHF note has an image of Le Corbusier, a famous Swiss architect, while the 1,000 CHF note depicts the Matterhorn, a well-known mountain in the Swiss Alps.
3. Coins:
- Coins in Switzerland come in denominations of 5, 10, 20 rappen (cents), and 0.5, 1, and 2 Swiss Francs. The coins usually portray Swiss emblems such as the Swiss shield, Edelweiss flower, or Helvetia, the female national personification of Switzerland.
- For instance, the 1 Swiss Franc coin displays the Swiss shield with the inscription "Helvetia" and the year of minting.
4. Conversion and Exchange:
- The exchange rate of the Swiss Franc varies in relation to other currencies. It is advisable to check the current exchange rate before converting your money.
- Some popular online platforms and banks provide currency conversion services, allowing you to convert your currency into Swiss Francs based on the prevailing exchange rate.
- Additionally, it is possible to exchange foreign currency into Swiss Francs at banks, currency exchange offices, or ATMs located throughout Switzerland.
5. Importance and Usage:
- The Swiss Franc is widely accepted in Switzerland for all transactions including shopping, dining, transportation, and accommodation.
- While some businesses accept major debit and credit cards, having cash in Swiss Francs is recommended for smaller establishments and local markets.
- ATMs are readily available and allow you to withdraw Swiss Francs using your bank card or credit card, provided they are compatible with international networks such as Visa, Mastercard, or Maestro.
6. Currency Symbol:
- The symbol for the Swiss Franc is "CHF," derived from the Latin words "Confoederatio Helvetica Franc." It helps differentiate the currency from other countries using the "Franc" denomination.
- For example, the symbol for the Euro currency is "€," while the symbol for the United States Dollar is "$."
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