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    (i) Tax Collection at Source (TCS) at the rate of 0.5% or 5% as applicable will be levied under section 206C(1G)(b) of the Income Tax Act on remittance on account of Education purpose or Medical purpose, if the aggregate amount exceeds Rs.7,00,000 in a financial year under the Liberalized Remittance Scheme of the Reserve Bank of India.
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  • Disclaimer Note for TCS
    (i) Tax Collection at Source (TCS) at the rate of 0.5% or 5% as applicable will be levied under section 206C(1G)(b) of the Income Tax Act on remittance on account of Education purpose or Medical purpose, if the aggregate amount exceeds Rs.7,00,000 in a financial year under the Liberalized Remittance Scheme of the Reserve Bank of India.
    (ii) Tax Collection at Source (TCS) at the rate of 20% will be levied under section 206C(1G)(b) of the Income Tax Act on all other remittances not covered in (i) above, if the aggregate amount exceeds Rs.7,00,000 in a financial year under the Liberalized Remittance Scheme of the Reserve Bank of India.
    The TCS collected will be reflected in the 26AS of the payer for claiming Income Tax credit.
  • Disclaimer Note for non-refund of TCS
    In the event of cancellation of services and refund of amount, Tax collected at source under section 206C (1G) of the Income Tax Act, 1961 shall not be refunded. The non-refunded TCS will be reflected in the 26AS of the payer for claiming Income Tax credit.
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Swiss Franc (CHF) - Switzerland Currency

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Buy, Sell or Transfer Swiss Franc (CHF) in India at the best exchange rates

About Swiss Franc (CHF)

The Swiss Franc is the official currency of Switzerland. The currency code is CHF and the banknotes are issued by the Swiss National Bank, while the coins are issued by the Swiss Mint. The Swiss economy has been recognized as the safest economy in the world and thus, is often referred as a safe heaven. 100 centimes make one CHF. Another symbol for the Franc is ‘Fr’.

Everything You Need To Know About The Switzerland Currency:

    1. CHF currency coins come in 5 francs, 2 francs, 1 franc (equal to 100 centimes), ½ francs (50 centimes), 20 centimes, 10 centimes, and 5 centimes in value.
    2. The most often used banknotes include 10 francs, 20 francs, 50 francs, 100 francs, 200 francs, and 1000 francs.
    3. The 1000-franc banknote is the highest circulated bill, at 61.1%. That’s not all, it is also the second most valuable bill worldwide.

History of the Swiss Franc

The Swiss franc, also known as CHF, has a rich and fascinating history that can be traced back to the late 18th century when Switzerland was a confederation of independent cantons. At the time, each canton had its own currency, and there was no standard unit of exchange across the country.

In 1798, the French revolutionary army invaded Switzerland and established the Helvetic Republic, a new state that aimed to centralize power and modernise the country. As part of this effort, the Helvetic Republic introduced a new currency called the franc, which was based on the French franc.

However, the Helvetic Republic was short-lived, and in 1803, Switzerland regained its independence. The cantons once again began issuing their own currencies, but the franc remained in use as a standard unit of exchange.

In 1848, the new Swiss Federal Constitution stated that the federal government would be the only organization authorized to issue currency in the country. The Federal Assembly established the Swiss franc as a monetary unit on May 7, 1850, and passed it as the first federal monetary law. The Swiss franc was established at par with the French franc.

Between 1865 to the 1920s, France, Italy, Switzerland, and Belgium founded the Latin Monetary Union. This union linked the values of all four countries' currencies to the value of silver.

During World War II, the Swiss Franc played a crucial role in international finance. Switzerland remained neutral during the war, and its banks became a safe haven for investors and governments seeking to protect their assets from the conflict. The Swiss Franc was seen as a stable and secure currency, and it became a popular choice for international transactions.

Following the Second World War, the Bretton Woods exchange rate system was designed, and it was in effect up until the early 1970s. Swiss francs were included in the system. The CHF exchange rate and the price of gold were correlated until May 2000.

Today, both the foreign exchange market and the futures market see regular trading of the Swiss franc. Although it is most frequently traded against the euro, the US dollar, the Japanese yen, and the British pound are some other common currencies it is traded with. Switzerland offers investors a low-interest rate environment that helps investors to borrow in the Swiss franc and invest in high-return assets and other currencies worldwide.

Factors affecting Swiss Franc currency

The exchange rate of the Swiss franc is guided by several factors. They include:

1. The Swiss National Bank (SNB):

In the realm of central banking, the SNB, the Central Bank of Switzerland, occupies a special place. Having complete autonomy in determining monetary and exchange rate policy, it has created cutting-edge methods for controlling interest rates and managing liquidity. The SNB does not base its monetary policy on a particular money market rate, in contrast to the majority of central banks. It has generally turned to foreign currency swaps and repurchase agreements to affect the money supply and interest rates. Due to the use of foreign exchange swaps, this strategy significantly impacted the value of the Swiss franc.

2. Liquidity management:

Due to the SNB's use of foreign exchange swaps, its approach to liquidity management has usually had an impact on the Swiss franc. When the bank needs to add liquidity, it buys foreign currencies, primarily dollars, against Swiss francs, pushing the latter's exchange rate higher. SNB representatives can also influence the Swiss Franc by occasionally commenting on liquidity, the money supply, or the currency itself.

3. Interest rates and the discount rate:

The SNB announces changes in monetary policy using the discount rate, which has a substantial impact on the currency. However, at the bank's discount facility, the discount rate is hardly ever applied.

4. Economic data:

Switzerland releases several economic data sets, some of which are more important than others. The M3 (the broadest indicator of the money supply), unemployment, CPI, GDP, and the balance of payments are among the most significant ones. The Swiss currency and the Swiss economy as a whole may be significantly impacted by these data releases.

5. Cross rate effect:

Cross-currency rates (non-dollar exchange rates) like EUR/CHF or GBP/CHF might occasionally impact the USD/CHF exchange rate. For instance: A rise in GBP/CHF brought on by a UK interest rate increase may make the Swiss franc weaker than other currencies, such as the dollar. As a result, it is crucial to monitor cross-exchange rates.

Quick Facts About Swiss Franc (CHF)

Currency Name Swiss Franc
Short Name CHF
Nicknames Stutz, Stei, Eier, Chuffs
Symbol (s) CHF, Fr, SFr
Unit 1/100, Rappen, Rp (German) |Centime, C (French) | Centesimo, Ct (Italian) | Rap, Rp (Romansh)
Frequently Used Coins 1 Fr., 2 Fr., 5 FR., 5Rp., 10Rp., 20Rp., 50Rp.
Rarely Used Coins NA
Frequently Used Bank Notes 10 CHF, 20 CHF, 50 CHF, 100 CHF, 200 CHF, 1000 CHF
Rarely Used Bank Notes NA
Central Bank, Name & Website Swiss National Bank | www.snb.cn
Territories that officially use the Swiss Franc as a part of their legal tender Liechtenstein, Campione d'ltalla, Büsingen

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The Swiss Franc Currency

The Swiss Franc remains the sole franc version to be under issuance yet in Europe. The currency is utilised globally as a currency reserve. Since there are multiple national languages in Switzerland tha t are German, French, Italian and Romansh, the bank notes and coins are issued in those languages out of respect.
The coins that are in circulation are in the in the denominations of centimes 5, 10 and 20, and francs 0.5, 1, 2 and 5. Similarly, for the bank notes circulation, the denominations are in francs 10, 20, 50, 100, 200 & 1,000.

How to buy forex in India?
Thomas Cook provides the best currency rates in India and empowers you to buy forex at the touch of a button, from the comfort of your home. To buy forex online, visit the Thomas Cook website, choose the desired currency, enter the required details, and within 24 hours our experts will deliver your currency at your doorstep.

If you wish, you can visit the nearest Thomas Cook branch and our forex experts will be there to assist you, ensuring a smooth and effortless transaction.


What is today’s swiss franc rate?
To know the on-going INR to CHF exchange rate, simply use our online free money converter tool. It is equipped to provide you with the live exchange rates of over 26 currencies worldwide.

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Frequently Asked Questions

Why is Switzerland referred to as CHF?
Switzerland is called CHF because it is the abbreviation for the Swiss Franc, which is the official currency of Switzerland. The "CH" stands for "Confoederatio Helvetica," the Latin name for Switzerland.
What is special about the Swiss franc?
Due to Switzerland's political stability, robust economy, and conservative monetary policies, the Swiss Franc (CHF) has earned a reputation as a safe-haven currency. It is famous for being one of the few major currencies that has traditionally had a close relationship with gold, and its value is frequently affected by geopolitical developments and global economic uncertainty.
Which currency is ideal for use in Switzerland?
Since it is the official currency of Switzerland and is widely used in all transactions, the Swiss Franc (CHF) is the best money to use there. Using CHF ensures smooth transactions across Switzerland and does away with the necessity for currency conversion.
Can I use Euro in Switzerland?
Only francs are accepted in Switzerland and no other currency is. We suggest you keep Swiss Franc with you to carry out all your cash transactions to avoid any inconvenience during your trip. It will otherwise become an inconvenient and an expensive affair to exchange currencies at the last minute.
How can I sell Swiss Francs at the best rates?
This depends on the live rates at the point of sale. If you are looking to sell your Swiss Francs and need advice on how to go about it then we suggest you get in touch with one of our experts.

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