Due to the frequent changes on the geopolitical map of the world, many people are already confused which country belongs to which alliance. Moreover, not everyone knows what currency people use in a particular country. For example, some still doubt what currency in Switzerland is in use today. Since this country is a member of the European Union, the currency there should be the euro. But is it really so? It turns out, no.
Money in Switzerland
For many 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. Today it is the only currency in the united Europe under the name "franc".
Unlike other states, Switzerland has several state languages. So the Swiss currency is officially named 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 (centesimo) - in Italian;
- 100 rapps (rap) - in Romansh;
- 100 centimes (centime) - in French.
The Swiss currency is encrypted with Latin letters CHF, the ISO code is 756 or 4217. It is noteworthy that the symbols sFr, ₣, Sfr, FS, SF or Fr. are used to indicate the currency inside the country.
Historical excursion
As an independent currency, the Swiss franc appeared on this territory in 1850. He replaced the motley money that "went" in the cantons (admin-units of the country) until that time. Some cantons at this point already used francs - the national money of France. In order to avoid chaos and establish currency unification, a special reservation was made in the Swiss Constitution in 1848. Only the Swiss leadership can print and mint currency in 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 is between 1994-1998. Design by Jorgan Sintzmayer. He dedicated it to famous figures of the art world.
The Swiss franc has always been quite stable. He shook significantly only once, at the end of September 1936. Then the Swiss currency devalued by thirty percent.
Banknotes
Today, the Swiss National Bank issues banknotes of various denominations. They all have a different size, color and pattern. Swiss paper currency has the parameters shown in the table.
| Face value | Size mm | Color | Picture |
| 10 CHF | 126x74 | Yellow | Le Corbusier - the founder of constructivism |
| 20 CHF | 137x74 | Red | Arthur Onegger - composer |
| 50 CHF | 148x74 | Green | Sophie Tauber-Arp - sculptor |
| 100 CHF | 159x74 | Blue | Alberto Giacometti - artist |
| 200 CHF | 170x74 | Brown | Charles Ferdinand Ramuy - writer |
| 1000 CHF | 181x74 | Purple | Jacob Burkhardt - philosopher |
It is noteworthy that all the images on banknotes are arranged vertically, while the banknotes of most countries are horizontal. Swiss money is very colorful, made on good paper and has all the necessary degrees of protection. It is interesting that the banknotes of the previous - seventh - series, developed in 1983-1985, remained only a project. They were not put into circulation and became standby.
New series of banknotes
Today in Switzerland is preparing to issue a new wave of banknotes, the 9th in a row. Her designer was Manuela Pfrunder. First, the release date of the new series was planned for 2010. But in order to develop high-quality protection for banknotes, the event was postponed for two years. However, in February 2012, the Swiss National Bank again made a statement. It talked about the presence of technical problems and the postponement of the start of production for at least a year. Then there was another delay. According to the latest information, the new series should be released in the period 2016-2019. Already in April 2016, 50 new Swiss francs were put into circulation. But despite all the delays, a week later a new banknote revealed some shortcomings. So, most likely the Swiss currency will again go for revision.
Coins
Among metal banknotes , 5, 10, as well as 20 rappens are minted here. There are also metal 5, 2 and 1 Swiss francs, as well as a half franc coin. On the "money" it is written - 1/2. Smaller coins gradually disappear from circulation. The minting of a 1-centime coin was discontinued ten years ago, and a coin of 2 rappen denominations was discontinued in 1974.
All Swiss coins have a regular round shape. Five-rappen coins are minted from an alloy of Al, Ni and Cu. All the rest are from the compound of Cu and Ni. On coins in denominations of 20, 10 and 5 rappen, the head (in profile) of the goddess of freedom is depicted. On coins in 2 and 1 Swiss francs, she is present in full growth. The five-franc coin is decorated with the image of the Swiss national hero - William Tell.
On the reverse of all coins there is their face value, as well as a wreath of grapes or oak.
The intricacies of currency exchange
The exchange of Swiss francs for any other currency can be carried out at specialized points, abundantly available throughout the country. Also, the exchange service can be used at any bank. But here you need to remember about time. Banks serve customers from 8:00 to 16:00. Some banking institutions work until 18:00, but this is rather the exception. You can exchange the Swiss franc to the dollar or other currency through the "exchanger" located near the station or airport, from six in the morning until ten in the evening. And some exchange offices do work around the clock.
If you don’t really want to wander around the city in search of an “exchanger”, the exchange can be made directly at the hotel (any one). In this case, the rate will not be too different from the bank. But it’s best to change money before arriving in Switzerland and here’s why:
- the Swiss franc is here artificially overpriced;
- the more unpopular currency you want to exchange, the less profitable the rate will be; By the way, rubles is one of the least popular currencies in this country.
If you decide to cash out money at an ATM, you can “withdraw” both the euro and Swiss francs. Oddly enough, but credit cards in this country are not very common. At least compared to England or America. Nevertheless, a credit card can be paid in almost any public place: a store, restaurant, hotel. But it is worth remembering that in Switzerland credit cards often set a lower limit on the amount that can be paid in this way. Most often it is 25-30 francs. This means that the amount less than the set you still have to pay in cash.
Today, the Swiss franc can be exchanged against the dollar at the rate of 1 CHF = 1.03 USD, and against the euro - 1 CHF = 0.92 EUR.
Import of currency into the country and features of cash payments
In Switzerland there are no restrictions on the import and export of any foreign currency. This means that you can import / export any money in any quantity in the country.
But there is an interesting detail. According to the decision of the Swiss government, from January 1, 2016, a person who has paid in cash in the amount of more than 100,000 francs is required to disclose his identity. In this way, the country is fighting money laundering. Confederate organizations are required to require an identity card from a person who has decided to pay for such a large purchase in cash. 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 as money laundering, the seller must inform the employees of the Anti-Money Laundering Bureau of this fact.
This requirement applies only to entities engaged in entrepreneurial activity. Settlements 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 purchasing goods. In this country, there is one feature - the return of a part of VAT (VAT) upon departure from the country. To use the service, you need to take a special check in the store, which is issued upon presentation of a passport. The amount indicated therein must exceed 500 Swiss francs. In this case, when leaving the country, you need to contact the bank located at the airport. By presenting a passport and a special check in the amount of more than 500 CHF, you will receive back about 80% of the amount of VAT.
Sometimes money is paid not when leaving the country, but a little later. In this case, a special seal will be put on the check. He will need to be sent by mail upon arrival home, and the money will be transferred to you on the card.
Some major Swiss stores may refund VAT on site in cash. This also requires a passport.
Where does the Swiss franc go?
The currency we are considering is in circulation not only in Switzerland. She has circulation in other places as well. Since 1924, the Swiss franc has been named the official currency of the Kingdom of Liechtenstein.
And here they have the right not only to use francs in settlements, but also to issue them in circulation (to mint). An important feature of francs minted on this territory is that coins issued on the territory of Liechtenstein can only “walk” inside the kingdom itself. Therefore, the honorary right to issue coins applies only to commemorative 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 Tessin canton, which belongs to Switzerland. Therefore, the economy of Campione d'Italia is not connected with Rome, located close, but with Switzerland. This country provides exclave residents with telephone services, postal services, hospital services, schooling and more. So Swiss money can be considered the official currency of these lands.