Swiss Franc

Overview

Economy

• Switzerland is a member of OECD, Council of Europe, OSCE, EFTA.
• Main industries include: Machinery, Chemicals, Watches, Textiles, Precision instruments, Tourism, Banking, Insurance.
• Switzerland is part of the World Trade Organization.
• Imports are machinery, chemicals, vehicles, metals, agricultural products, textiles.
• Major exports include machinery, chemicals, metals, watches, agricultural products.
• GDP: $807.7 billion (2023 est.).
• GDP per capita: $92,434 (2023 est.).
• Unemployment rate: 2.8% (2023 est.).
• Inflation rate: 2.1% (2023 est.).
• Main trading partners: Germany, United States, Italy, France, China, Austria.
• Trade agreements: EFTA agreements, Bilateral agreements with EU, Various FTAs.

History

• Previous currencies used: Various cantonal currencies, French livre, Guilders.
• The Swiss franc was introduced in 1850, replacing various cantonal and regional currencies. It has been one of the world's most stable currencies for over 170 years.
• 1850: Swiss franc introduced, replaced cantonal currencies
• 1907: Swiss National Bank established
• 1936: Devaluation during Great Depression
• 1971: End of Bretton Woods, CHF appreciation
• 2011-2015: Minimum exchange rate floor vs EUR
• 2015: Removal of EUR floor, significant appreciation
• Exchange rate peg: Gold standard (1850-1936).
• Exchange rate peg: USD (1945-1971).
• Exchange rate peg: EUR floor (2011-2015).
• Exchange rate peg: Free floating.

General Information

• ISO 4217 Code: CHF
• Symbols: CHF/Fr
• Currency Subunits: 100 rappen/centimes
• Central Bank: Swiss National Bank
• Monetary Policy: Price stability mandate with 0-2% inflation range. Free-floating exchange rate with interventions to prevent excessive appreciation.
• Bills: 10 CHF, 20 CHF, 50 CHF, 100 CHF, 200 CHF, 1000 CHF
• Coins: 5 rappen, 10 rappen, 20 rappen, 1⁄2 franc, 1 franc, 2 francs, 5 francs
• USD Exchange Rate: Variable (approximately 0.90 CHF per USD)
• Pegged To: None (Floating)
• Capital: Bern
• Population: 8,796,669 (2023 est.)
• Area: 41,277 km²
• Languages: German (official) 62.1%, French (official) 22.8%, Italian (official) 8%, Romansh (official) 0.5%, Other 6.6%
• Time Zones: UTC+1 (CET), UTC+2 (CEST in summer)
• Government Type: Federal republic with direct democracy
• Head of Government: Federal Council (collective head of state), President (rotates annually)
• Independence: 1291 (founding of Swiss Confederation)
• Ethnic Groups: Swiss 69.2%, German 4.2%, Italian 3.2%, French 2%, Kosovo 1.1%, Other 20.3%
• Religions: Roman Catholic 34.4%, Protestant 22.5%, Other Christian 5.7%, Muslim 5.4%, Other 1.5%, None 29.5%, Unspecified 1%
• Literacy Rate: 99% (2003 est.)
• Transport: Excellent rail network, modern roads, Zurich and Geneva airports, Alpine tunnels
• Communications: Advanced telecommunications, 96% internet penetration, comprehensive 5G coverage
• Energy: Hydroelectric 56%, Nuclear 33%, Fossil fuels 7%, Other renewables 4%
• Countries Using This Currency: Switzerland
• Data Sources: Central Bank: Swiss National Bank (snb.ch), Economic Data: Federal Statistical Office Switzerland, World Bank, IMF, Trade Data: Federal Customs Administration, Demographic Data: Federal Statistical Office Switzerland, Geographic Data: Federal Office of Meteorology and Climatology, Historical Data: Swiss National Bank archives
• Last Updated: 2025