Stock market expert Babin said that the economic strength and political stability in Switzerland, which is the financial center of Europe, helped the franc to become one of the world’s main defensive currencies.

The specialist explained that Switzerland, as the world’s largest gold processor and the financial capital of Europe, has gained a reputation as one of the most reliable financial and economic systems in the world. “The long-term political stability of the country also plays an important role in this,” he added. Therefore, the financier called the franc as a crisis-resistant currency.

“We can expect that the next crisis will once again prove the status of the Swiss franc as a reliable protective currency,” Babin said.

The analyst recalled that in 2020, when all markets were hit by the coronavirus pandemic, the Swiss franc rose sharply and continued to strengthen while the situation on the exchanges recovered.