Currency in Switzerland

Unlike most Schengen countries, Switzerland has its own currency, the Swiss Franc (CHF). While the Swiss Franc is accepted everywhere, you can also use the Euro in most of the places.

If you are on a Switzerland trip, it would be ideal for you to use francs only. However, if you passing through the country and will be staying for a night, you also have the option of using the Euro. On the other hand, you have to remember that most shops or stores will return the change in franc only, as it is the national currency of Switzerland and the exchange rate will vary. Ideally, it is a good idea to check with a store or hotel if they would accept Euros.

You can also use your credit, debit or a forex card as well, as they are widely accepted everywhere in the country. What you need to remember is that there will be additional bank charges upon usage.

Remember that foreign exchange rates keep fluctuating and it is always best to buy the currency when it is at a lower rate. Also, buy your currency through a proper channel or an agency like SOTC who will provide you with the transaction details for the same.

So get in touch with SOTC today!

Switzerland Intro Paragraph 

The country that breathes freshness and serenity is Switzerland. Known for its chocolates and beautiful landscapes, the country has several other attractive facets that you can explore when you are there. A land where people speak four languages, this country boasts of natural beauty more than anything else. Already a favorite spot for many Bollywood as well as Hollywood movies, everyone dreams of visiting this lovely place someday. Of all other reasons to visit places to visit in Switzerland, one major attraction is the pride of holding the Swiss currency at least once. 

Switzerland currency information 

The currency of Switzerland is the Swiss Franc, abbreviated as CHF. People like to invest in this land for its stable economy. Most people invest to convert their country’s currency to CHF. 1 Swiss Franc is equivalent to 74.21 INR at present while the same value is 1.04 USD. European countries still accept the Swiss Franc in their transactions. Hence, it is one of the most highly accepted currencies in the world. Travelling from India can be expensive as the difference in the value of the currency is higher. One must have enough money when travelling to Switzerland. 

Apart from the official currency of this country, Euro is also accepted in some places. Switzerland money is influenced not just by heavy investors but also by fluctuation of the price of gold. The Swiss National Bank is the body that decides the rate of currency. Owing to its constant growth in economy and excellent gross domestic product GDP per capita, Switzerland is one of the richest countries. Investment seekers are highly motivated to invest in Swiss currency because of its attribute of being a safe haven. 

History of Switzerland currency 

Swiss currency also has its rich history. Until 1798 when the Helvetic Republic introduced a brand-new system of monetization, there were 75 bodies responsible for the minting of coins. As a result, more than 860 currencies were in use for transaction. This made the transaction process too chaotic. It was in the year 1848 that the Federal Government of Switzerland became the issuer of the Switzerland money. Two years later on the 7th of May 1850, the current currency of the country - the Swiss Franc - was introduced. From the year 1865 to 1927, the same rate of exchange has been in use.

Switzerland also became a part of the Latin Monetary Union in the year 1865. The Union had France, Belgium, and Italy as a part of it. In the year 1945, the Swiss Franc also became a part of the BrentWood Systems where the currency was pegged at a rate of 1 USD = 4.375 Francs. For a period of three years from 2003 to 2006, the value of the country’s currency was stable. The value became higher than that of the USD in the year 2008. Switzerland money is now divided into two parts; bills and denominations. Bills are available in 10, 20, 50, 100, 200 and 1000 denominations. Francs and coins are 5, 10, 20 rappen 0.5, 1, 2, 5 Francs. 

Best places to exchange currency in Switzerland 

Two thing that comes to one’s mind while travelling to a foreign country is visa and where to exchange the currency. You just can’t exchange your money at a random place and make sure you apply for a Switzerland Visa well in time. Visiting the Exchange Bureau is the option that many suggest. However, withdrawing cash from any ATM in Switzerland will make your life easier. The exchange rate offered is decent and will not dent your pocket. One round rule to follow is to withdraw in large amounts so that you don’t withdraw several times. The fee may pinch you. 

Digital Transactions in Switzerland 

The world has gone digital in terms of money and so has Switzerland. Of course, the locals still love transacting in Switzerland money in cash form, than any other means. While internet banking is used for paying money, card payment is on the rise. Apart from cash, online money transfer and card payment, digital wallets are a new inclusion. It is present everywhere. Digital wallets are making transactions quite simple and, in a few clicks, your payment is done. If you are looking to shop in Switzerland, try any of these methods. 

Tipping in Switzerland 

Do you love visiting a café or a shopping mall again and again, because you love the hospitality there? Well, you aren’t the only one. And who can deny the impression a good service has on us. In Switzerland, most of the bills already have service charges included. At times, we want to go out of the way and bring a smile on someone’s face. If you think the service was good or excellent, you should not mind rounding off the bill or paying 1 CFH and it can go up to 5 CFH depending on the bill and the place you are.

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