Forex Swiss Franc
Who uses the Swiss franc?
The Swiss franc is a hard currency. What that means is that it is a forex paper traded the globe over and giving the perception of a stable store of value. It is usually call a safe-haven currency by forex brokers.
The franc (Fr., CHF) is the legal forex tender of Switzerland and the Princely House of Liechtenstein; it is also officially in use in the Italian exclave Campione d'Italia located at lake Lugano. The Swiss National Bank, or SNB for short, issues banknotes while Swissmint issues coins.
The smallest denomination of a Swiss franc, a 1/100 of a franc, is a Rappen (Rp.) in German, centime (c.) in French, centesimo (ct.) in Italian, and rap (rp.) in the Romansh language. The code of the currency used by banks, forex brokers and other financial institutions is CHF and that is what you will see on your forex trading platforms (what is forex). CH stands for Confoederatio Helvetica, the historical Latin name of Switzerland.
The coins have inscriptions in Latin which is not an official language, obviously. The reason for this is that the country has 4 official language and it would be cumbersome or impossible to write the inscriptions in all 4 of them. It’s nice to know all of this if you want to learn forex. After that you can open a trading account with some brokers like Oanda or Dukascopy or, perhaps, Saxo Bank. Now, Saxo Bank are based in Denmark, so that means that they are regulated by the Danish FSA which provides good protection for investors' money.
The high value of the Swiss franc was said to be a threat to the economy of Switzerland in 2011 when the Swiss National Bank intervened on the forex market and set a minimum exchange rate of 1.20 francs for one euro.
