Cash-crazy Swiss get new 1,000 Swiss franc note
06 Mar 2019

Switzerland’s central bank launched a new 1,000 Swiss franc (759.4 pounds) note on Tuesday, saying one of the world’s most valuable banknotes catered to the popularity of cash in Swiss culture and was not a help for criminals.

The Swiss National Bank’s announcement of the new lilac-coloured note, available from March 13, comes as other central banks move away from large notes because of concerns about their use by criminals and money launderers.

“The choice of the denomination is a matter for the SNB, but the current denominations are appropriate and correspond to what people want,” Vice Chairman Fritz Zurbruegg told a news conference.

By John Revill, Reuters, 5 March 2019

Link to Reuters

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