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Tuesday, December 27, 2005

The Swiss franc: NOT quite the mayonnaise of currencies

Further to JohnnyM's update regarding the currency discussion at last Friday's JTC meeting, I have done some research on the Swiss franc and it's status among the world's currencies. Here's what I've learned:

  1. It is the official currency of Switzerland AND Leichtenstein (where?)
  2. The Swiss franc is one of the world's most stable currencies, thanks to the Switzerland's neutrality, fiercely conservative monetary policy and ample gold reserves of the Swiss national bank.
  3. The Swiss have not yet converted to using European Currency Unit (aka the 'Euro'), namely because it might impact that neutrality (grow a spine and pick a side!) and since the thought of sharing anything with the Lira causes shudders from Geneva to Schaffhausen.
  4. Even though the currency in international trading markets is worth in the range of 80 to 90 U.S. cents, it has surprisingly little actual purchasing power; items tend to cost about twice what they would in the United States (or Canada whose dollar is worth about the same as the Swiss currency).
  5. Current worth of the Swiss franc (as of Dec 27, 2005): 1 Swiss franc = 0.761557 U.S. dollars........Chocolate and watch sales were disappointing during the holidays.

1 comment:

Coco The Monkey said...

Phenomenal use of "from Geneva to Schaffhausen."