Business, Legal & Accounting Glossary
The Swiss franc is the currency of Switzerland. CHF is the abbreviation of the Swiss franc. Other abbreviations of the Swiss franc include Fr or SFr. Since the implementation of the euro in 2002, the Swiss franc is the only franc currency still active in Europe. The Swiss National Bank, Switzerland’s central bank, is responsible for Switzerland’s monetary policy and distributes the Swiss franc. The Swiss franc, along with the US dollar, the euro, the Japanese yen, and the Pound sterling, is one of the major currencies trading on foreign exchange (Forex) markets. Despite its relatively small size and economy, Switzerland’s neutrality and independence have contributed to the Swiss franc remaining a major international currency. The Swiss franc is sometimes nicknamed the “Swissie”.
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This glossary post was last updated: 6th February, 2020