CHF to GYD

CHF - Swiss Franc (SFr.)

The Swiss franc is the currency of Switzerland. The most popular Swiss franc exchange is with the euro. The franc is represented by the sign ‘Fr’ or ‘SFr’ or ‘FS’, and its currency code is CHF. The Swiss franc is fiat currency, and its conversion factor has 6 significant digits. The Swiss franc is called franken in German, the franc in French and Romansh, and the franco in Italian.

The official currency of Switzerland is the Swiss Franc (CHF). The Swiss Franc is the only Franc still issued in the European countries. The Franc is subdivided into 100 centimes. The symbol used for the Franc is Fr. Banknotes are issued by the Swiss National Bank and coins are issued by the Swiss Mint.

The Swiss Franc is the currency in Switzerland (CH, CHE), and Liechtenstein (LI, LIE). The symbol for CHF can be written SwF, and SFr. The Swiss Franc is divided into 100 rappen (centimes). The exchange rate for the Swiss Franc was last updated on Today from The International Monetary Fund. The CHF conversion factor has 6 significant digits.

Economy

• Switzerland’s economy is seen as a safe haven and is rated as the safest economy in the world.
• The economy is dependent on foreign investments.
• The unemployment rate is estimated at 3%.
• The main industries are watches, chemicals, textiles, machinery, and precision instruments.
• Export products are agricultural products, metals, chemicals, watches, and machinery.
• Import products are vehicles, metals, textiles, machinery, and agricultural products.
• Switzerland’s tourism infrastructure is highly developed.
• Approximately 28% of all offshore funds are banked in Switzerland.
• The country is neutral and is not part of the European Union.

History

• In 1848, Switzerland declared that the Federal Government of Switzerland will be the official issuer of the Swiss Franc.
• In 1850, the first Swiss Franc was introduced; it was on par with the French Franc.
• In 1865, Switzerland became part of the Latin Monetary Union, which consisted of France, Italy, Switzerland, and Belgium.
• Switzerland decided to become part of the Brent Wood System in 1945. The Franc was pegged to the US Dollar at 4.375 Francs = 1 USD.
• From 2003 to 2006, the Swiss Franc was stable against the Euro.
• In 2008, the Swiss Franc was valued higher than the USD.
• In 2010, the 9th series of Francs was introduced.
• In 2011, the European Union stated that the “Franc is a threat to the economy” and this caused the Franc to plunge.

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GYD - Guyanaese Dollar (GYD)

Guyanaese Dollar

The Guyanese Dollar is the official currency of Guyana, a sovereign state on the northern coast of South America. It is culturally identified with the English-speaking islands of the Caribbean because it was one of the territories, known as British Guiana, of the British West Indies.

The Guyanese Dollar is the currency in Guyana (GY, GUY). The symbol for GYD can be written G$. The Guyanese Dollar is divided into 100 cents. The exchange rate for the Guyanese Dollar was last updated on May 24, 2019 from Yahoo Finance. The GYD conversion factor has 5 significant digits.

Economy

• The main economic activities in Guyana are agriculture (rice and Demerara sugar), bauxite mining, gold mining, timber, and shrimp fishing.
• Chronic problems include a shortage of skilled workers and poor infrastructure.
• The government has juggled a considerable debt and the urgent need to expand public investment, and its fiscal position traditionally erodes when agricultural and mineral commodity prices are low. The country overhauled its tax code in early 2007 with a Value Added Tax (VAT) that is expected to add significant funds for public spending.
• The Guyanese economy has shown moderate economic growth since 1999, thanks to the expansion in the agricultural and mining sectors, a more favorable environment for entrepreneurship, a more realistic exchange rate, low inflation, and the continued support of international organizations.
• Economic growth has slowed as a result of the world recession, but GDP real growth rate continues to be over 3%, according to the CIA World Fact Book.

History

• In the 1800s, like other British West Indies territories, British Guiana used regular British coins, along with 2 and 4 pennies.
• The Guyanan Dollar shares the history of currency with other territories in the British West Indies, with a few exceptions: British Guiana continued to use the four-pence coin mill when other territories abandoned it, and used Dollar accounts in public and private sectors exclusively from 1839 (whereas other territories used a mix of accounts in Dollars and the British Pound until 1951).
• Between 1891 and 1916, four-cent coins were issued specifically for "British Guiana and the West Indies," and between 1917 and 1945 for "British Guiana".
• In 1916, paper money was first issued by the Government of British Guiana, in denominations of 1, 2, 5, 20 and 100 dollars.
• Guyana gained independence from United Kingdom on May 26, 1966, and became a republic on February 23, 1970.
• Banknotes were introduced in 1966 in denominations of 1, 5, 10 and 20 Guyanese Dollars. A second series was issued between 1989 and 1992 in denominations of $20, 100 and 500. The 1996-1999 series added a $1,000 bill. New $100 and $1,000 bills were issued in 2005 with added safety features.

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