Historically, the Swiss franc has been one of the most stable global currencies thanks to the resilience of the Swiss economy, based on a highly specialized workforce and ideal conditions for businesses of all sizes, Dmitry Babin, Russian expert on the stock market, told the Prime agency, Report informs.
“In addition, being the world’s largest gold processor, as well as the de facto banking and financial capital of Europe, Switzerland has rightfully earned a reputation as one of the most reliable financial and economic systems in the world. The country’s long-term political stability also plays an important role in this,” the expert added.
Thanks to this combination of characteristics, the Swiss franc is one of the safest currencies along with the US dollar, Babin said.
This was also evident last year when the national currency of Switzerland rose sharply during the period of destabilization of all markets due to the pandemic and then continued to strengthen after the euro and other risky assets due to the improvement in the situation on the stock exchanges.