Definition – What does Swiss Franc (CHF) mean?
The Swiss franc (CHF) is the official currency of Switzerland and Liechtenstein. The Swiss franc is considered to be one of the major world currencies and is paired with all the other major currencies, including the U.S. dollar (USD), Japanese yen (JPY), British pound sterling (GBP), euro (EUR), Australian dollar (AUD) and Canadian dollar (CAD).
ForexTerms explains Swiss Franc (CHF)
The Swiss franc was once the currency of choice for banks and high-net worth individuals because it was backed by a percentage of gold set by law. This law was repealed in 2000, but the traditional fiscal responsibility of the Swiss has kept the franc’s status as a safe haven currency.
