CAD/CHF – Live and Historical Rates
Of these two currencies, the CHF is a major, while the CAD is not. Despite that, the Canadian dollar is still the 7th most traded currency in the world. The above chart shows how many Swiss Francs one needs to buy a Canadian Dollar.
Backed by the 10th largest economy in the world, the Canadian Dollar was introduced way back in 1871. The move ended a series of disputes regarding the currency-path the country would take, and it finally unified the currencies used by Canadians. The CAD has only been floating since 1970 though. Since 1988, the Bank of Canada, the financial authority in control of the currency, has remained largely on the sidelines, electing not to influence the CAD in any shape or form. Canada’s biggest trade partner is obviously the US, despite the fact that the country has remained under the governing power of Great Britain.
The Swiss Franc is the currency used by the countries of Switzerland and Liechtenstein. Introduced in 1850, the CHF continues to stand on very solid footings, partly due to the massive gold reserves held by the Swiss Bank, the authority under whose control the currency falls. Despite the mass-adoption of the EUR, the Swiss managed to hang on to their national currency and there are no signs that their stance in this regard will change in the foreseeable future. Based on a strong finance sector, tourism and manufacturing, the Swiss economy is well suited to supporting its own currency. Despite being popular with Fx traders, the CHF only accounts for a little over 1% of the global daily Fx turn over.
The trading of the CAD/CHF is closely correlated with the trading of the EUR/USD. The economies of the two countries aren’t just radically different. One of them is massively dependent on the US, while the other, on the EU.