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Currency

Are Euros accepted in Switzerland ?

The franc is the only currency accepted everywhere. ... Note that the Euro is a foreign currency in Switzerland, so accepting it results in extra costs and risks for shop owners. Therefore, if you pay with Euros, change will be in Swiss francs and the exchange rate is mostly not in your favour.

Importance of the Swiss Franc

The Swiss Franc has a reputation for being a safe haven or hard currency; it is often purchased during financial uncertainty due to its reliability and stability. Regularly used as a global reserve currency, the Swiss Franc is the sixth most traded currency in the world. All CHF banknotes feature the four national languages of Switzerland: Germany, Romansh, French, and Italian.

Brief History of the Swiss Franc

Prior to the Helvetic Republic, over 860 different coins circulated in Switzerland. In 1798, the Franc currency was introduced and used until 1803 along with a number of foreign currencies. During this time, there was a complex currency system comprising over 8,000 different coins and banknotes in circulation. Under the Federal Coinage Act, all currencies were replaced by the Swiss Franc, which was introduced at par with the French Franc in 1850. Switzerland adopted the gold standard in 1865 as a member of the Latin Monetary Union, legally maintaining it until 2000.

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