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:
- It is the official currency of Switzerland AND Leichtenstein (where?)
- 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.
- 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.
- 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).
- 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:
Phenomenal use of "from Geneva to Schaffhausen."
Coco
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