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Switzerland has 1000 Franc notes which is around 1140 USD. The central bank just decided that the next series will also include the 1k note although the EU does
by sschueller 2y ago
Switzerland has 1000 Franc notes which is around 1140 USD. The central bank just decided that the next series will also include the 1k note although the EU doesn't want it (not that they really have a say) and some others are opposed to it as well.
CHF 1000 is worth less than it ever was so the whole claim about it being used for crime is bullshit. People keep cash at home and safety deposit boxes. When we had negative interest rates it made sense to keep some money in cash.
A bigger debate that is coming is the elimination of the 5 rappen coin. The 1 rappen coin was killed a long time ago and the golden colored 5 may soon also go.
- avidiax 2y agoMy understanding is that Switzerland doesn't require you to declare cash of any amount when arriving. €1.2million in a briefcase? No problem. 3kg of beef? Serious business. CHF1000 notes would obviously be very convenient for moving large amounts of cash. If you are the sort of person trying to avoid the tax man's 20-40% taxation or the police's 100% taxation, why care about the CHF exchange rate?