Hoarding of Cash Doubles in Switzerland

Swiss 1000-CHF

The most valuable paper currency is the Swiss 1000 franc note. The Swiss are withdrawing money from banks and storing it at home. Sales of safes have skyrocketed and the demand for the 1000 franc note has taken off amazingly. One in ten notes now printed by Switzerland are in the form of a 1000 franc note. With banks losing trust and interest rates going negative, the demand for the 1000 franc note has doubled since 2007. In fact, as of May 2015, 41.6 billion Swiss francs are now in circulation in 1000 CHF notes.