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On This Day in 2015: Switzerland Uncapped Swiss Franc Against the Euro


On 15th January 2015, the Swiss National Bank uncapped the Swiss franc against the euro, resulting in a rise in its currency value from 1.20 to 1.04 francs/euro; the bank also reduced interest rates from -.25% to -.75%, increasing costs to investors who store deposits.

The franc (CHF) is the currency and legal tender of Switzerland and Liechtenstein; it is also legal tender in the Italian exclave Campione d'Italia.

The Swiss National Bank (SNB) issues banknotes and the federal mint Swissmint issues coins.

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