THE SWISS FRANC (CHF)
The official currency of Switzerland is the Swiss Franc with the sign Fr. or SFr. With the code (CHF). The CHF is the legal tender of Switzerland, Liechtenstein, and Italian, the Swiss National Bank (SNB) issues banknotes and the Swiss Mint issues the coins in the European countries. In 1789 about 75 entities were making coins in Switzerland, the Helvetic Republic introduced the franc, and in 1848 Switzerland declared the Federal government of Switzerland to be the official issuer of the Swiss Franc. The first Swiss franc was introduced in the year 1850 and became part of the Latin Monetary Union in 1865 in conjunction with France, Italy, Switzerland,and Belgium. In 1945 Switzerlanddecided to be part of the Brent Wood System, pegging the Franc to the US Dollar. In the year 2003 to 2006 the legal tender of Switzerland became stable against the Euro, making the currency has a higher value than USD in 2008, as at 2010 the ninth series of the Franc was introduced and the European Union stated the Franc is a threat to the economy in 2011 causing a plunge in the currency and boosted in 2015 due to the high rate in exportation of products like the agricultural products. Metals, textiles, machinery and every other raw material, leaving the country neutral and not part of the European Union.
THE UNITED STATES DOLLAR (USD)
The United StatesDollar is the official currency of the United State of Americaand most traded currency in the world. The United States Dollars is usually recognized with (US$), sign ($), and the code (USD), it is mostly regarded as the American dollar or the United States Dollar, the Dollar take its name after the German word “Thaler” during the colonial rule, various currencies were used in the British Colonies in the form of coins and paper money. Sometimes when these two medium of exchange were scare, commodities would be used in place of money. The currency Pound used has different value but were much lesser than the British Pound Sterling. The currency (coins) used were mostly commonly circulated and readily available was that of the Portuguese or the Spanish Peso also called Spanish milled dollar, because of its high silver content used in making the coin. Later on, the Spanish dollar was widely used in the United States which led to the dollar being adopted as a standard currency in the US. In 1775 different states were printing their own currency and the continental currency was issued. The united State Congress appointed Robert Morris as the Superintendent of Finance of the United States who advocated the establishment of the first financial institution charted by the United States, then created the United State dollar which was derived from the word “Low Saxon” in April 2nd 1792issuing as the standard unit of the money. The currency is the most powerful denomination backed with the largest economy in the United States of America and beyond rated as the global currency.
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