Live Forex Rates - EURCHF
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Less popular with traders who “Scalp” the market due to the low amount of volatility, and shows how much the Euro is worth as a measure against the Swiss Franc. Euro & CHF has an inverse relationship of upwards negative 95%, therefore meaning when EURUSD rallies and USDCHF sells off and vice versa. This currency pair tells traders how many Swiss Franc are needed to buy one unit of Euro.
- The Central Bank of Europe is the European Central Bank (ECB).
- Currently 19 member states of the European Union (EU) use the Euro currency, meaning that exchange rate risk is reduced and contributes to economic stability for all countries within the EU.
- The Euro is the second-largest currency that is traded worldwide and is a major global reserve currency.
- The Euro replaced the European Currency Unit (ECU) in 1999 and strict rules were issued to member state countries joining the currency union.
- The Central Bank of Switzerland is the Swiss National Bank and is responsible for the nation’s monetary policy. Two Head Offices are based in Zurich & Bern.
- The Swiss Franc (also known to traders as the Swissie or Swissy) is the currency of Switzerland, Lichtenstein and Italian municipality of Campione d’Italia.
- The Swiss Economic practices largely follow those set by the European Union.
- Led by Financial Services, their highly developed service sector and a sophisticated high-tech manufacturing industry - the Swiss per capita GDP ranks the second highest in the world behind Luxembourg at $83,716 according to the International Monetary Fund (IMF) in 2019.
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