The Swiss National Bank’s announcement of the new lilac-colored 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.
“The 1,000 franc note is used for payments and also has a function as a store of value. Cash is still very popular in Switzerland, it is a cultural phenomenon.”
Read More.. Source Investing