The ISO code of the currency used by banks and financial institutions is CHF, although Fr. Forex katalog the different languages used in Switzerland, Latin is used for language-neutral inscriptions on its coins.
Before 1798, about 75 entities were making coins in Switzerland, including the 25 cantons and half-cantons, 16 cities, and abbeys, resulting in about 860 different coins in circulation, with different values, denominations and monetary systems. In 1798, the Helvetic Republic introduced the franc, a currency based on the Berne thaler, subdivided into 10 batzen or 100 centimes. After 1815, the restored Swiss Confederacy attempted to simplify the system of currencies once again. As of 1820, a total of 8,000 distinct coins were current in Switzerland: those issued by cantons, cities, abbeys, and principalities or lordships, mixed with surviving coins of the Helvetic Republic and the pre-1798 Helvetic Republic.
Switzerland in 1850 was locally produced, with the rest being foreign, mainly brought back by mercenaries. In addition, some private banks also started issuing the first banknotes, so that in total, at least 8000 different coins and notes were in circulation at that time, making the monetary system extremely complicated. To solve this problem, the new Swiss Federal Constitution of 1848 specified that the federal government would be the only entity allowed to issue money in Switzerland. In 1865, France, Belgium, Italy, and Switzerland formed the Latin Monetary Union, in which they agreed to value their national currencies to a standard of 4. 5 grams of silver or 0. On 6 September 2011, when the exchange rate was 1.
SNB set a minimum exchange rate of 1. 16 of the most active currencies on the day of the announcement. It was the largest plunge of the franc ever against the euro. On 18 December 2014, the Swiss central bank introduced a negative interest rate on bank deposits to support its CHF ceiling. The large and unexpected jump caused major losses for some currency traders. Media questioned the ongoing credibility of the Swiss central bank, and indeed central banks in general.