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The newly refounded Swiss Confederation specified that in 1848 the only persons allowed to create currency would be the federal government, and so the franc was introduced on par with the French franc replacing currencies of the Swiss cantons. The Swiss Franc remained on the Latin Monetary Union standard, backed by silver and gold, until The Great Depression in the 1930s. The currency was devalued by 30%, and in 1945 joined the Bretton Woods system to be pegged to the US dollar.
The Swiss franc has been considered a safe haven, with close to 0 inflation and minimum 40% backed by gold reserves. This link to gold was terminated in 2000 which led to the Swiss National Bank holding 20% of its assets in gold.
Given the different languages used in Switzerland, Latin is used for language-neutral inscriptions on its coins.
The Swiss Franc is the official currency of Switzerland, Liechtenstein and the Italian exclave of Campione d’Italia. The ISO 4217 currency code for the Swiss Franc is CHF, although Fr. is also widely used by businesses and advertisers; and some use SFr. for Swiss Franc. The Latinate "CH" stands for Confederatio Helvetica.