Finance, Currency
Swiss francs as one of the most reliable currencies
Until the middle of the nineteenth century, hundreds of types of banknotes and notes were in circulation in Switzerland. In accordance with the order of the times of Napoleon, the bishoprics and cantons issued their money. We can say that the Swiss francs appeared in the fifties of the century before last. Helvetic coins at that time were cast from silver. Their cost was originally equal to the nominal. However, the government of the Swiss Confederation did not have a monopoly in the production of money.
The increase in the amount of paper money gradually contributed to their devaluation. Therefore, in 1907, Switzerland had its own National Bank. At the height of the First World, this country, like many other European countries, decided to abandon the gold standard. Thus, all expenses of that difficult time were covered with the included printing press. However, Switzerland, unlike a number of other states, avoided inflation after the end of hostilities in Europe. The printing press that stamped the banknotes was turned off, followed by a return to the gold standard. The Swiss francs strengthened their positions. They became one of the strongest currencies in the 20s of the last century, along with Dutch florins.
Strengthening of the franc was explained by the following
Swiss francs are still a reliable currency today. They did not even suffer
Switzerland for a long time is a kind of magnet, attracting large foreign capital. Many wealthy people leave part of their funds in the banks of this country. This is due to the stable political and economic situation in Switzerland, the quality of service. The risks when investing in Confederation banks are minimal. There is always an opportunity to withdraw your contribution. Swiss banks provide a full range of services to their customers. All this contributes to attracting foreign capital, which ensures the stable stability of the national currency.
Similar articles
Trending Now