Swiss francs as one of the most reliable currencies

Until the middle of the nineteenth century, in Switzerland,There were hundreds of types of banknotes and notes. 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 initially equal to the face value. However, the government of the Swiss Confederation did not have a monopoly in the production of money.

In other words, each individual bank could issue banknotes.

The increase in the amount of paper money graduallycontributed to their devaluation. Therefore, in 1907, Switzerland had its own National Bank. In the midst of the First World, this country, like many other European states, 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 1920s, along with Dutch florins.

Strengthening of the franc was explained by the following

reasons: neutrality during the war, which made it possible to avoid colossal embezzlement of hostilities; return to the gold standard and the ensuing struggle against inflation. The events of the 1930s shocked the US and Europe, if not the entire world. Some of the leading European countries were forced to abandon the gold standard. But all this did not affect negatively the economic situation of the Confederation. Swiss francs remained one of the most reliable currencies in the world for a long time. However, in the early seventies an event occurred that affected the economies of many countries. The Bretton Woods system, according to which all currencies were tied to the dollar, and he, in turn, to the gold reserve, showed its complete failure, after which it was abandoned by all its participants. This forced the government of the Confederation to introduce floating courses.

Swiss francs are still a reliable currency today. They did not even suffer

during the financial crisis, shatteredeconomy of many countries. They are sometimes unofficially called the "currency of asylum". Each franc is divided into one hundred rappes, or centimes. The national currency is controlled by the authorities of the Confederation. The Swiss franc against the euro is referred to as 1: 0.81. Recently, the common currency of the EU is gradually losing ground to the money of the Confederation. This is explained by the fact that the growth rate of the European economy as a whole is declining. The Swiss franc to the ruble applies as 1: 35.5 for today. The exchange rate of the Russian currency is gradually falling.

Switzerland has long been a kind ofa magnet that attracts 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.

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