The franc is the official currency and legal tender of Switzerland and Liechtenstein. It is issued by the Swiss National Bank (SNB). Its ISO code is CHF (Confoederatio Helvetica Franc). Track its evolution on this page before executing your currency exchange operations.
The Swiss Franc (CHF) holds a unique position in the foreign exchange market. Historically considered one of the strongest and most reliable currencies in the world, it acts as a global safe haven. During periods of geopolitical uncertainty or international economic turbulence, the franc tends to appreciate massively.
The Swiss National Bank (SNB) monitors this currency closely, particularly against the Euro (the core EUR/CHF pair), because a franc that is too strong penalizes the Swiss export market. For cross-border workers and SMEs, tracking these major macroeconomic movements allows them to choose the optimal time to secure salary conversions or supplier payments.
The Swiss National Bank (SNB) has a primary mandate: to ensure price stability while taking economic developments into account. Its role is crucial due to the franc's historical status as a "safe haven." In the event of a global crisis, investors massively purchase CHF, causing its valuation to surge against other global currencies.
A franc that is too strong heavily penalizes the Swiss export industry (watchmaking, pharmaceuticals, machinery) and tourism, as Swiss products become very expensive abroad. To counter this overvaluation, the SNB has historically used two main levers:
However, with the recent return of global inflation, the SNB has shifted its paradigm and tolerated a strong franc in order to combat "imported inflation," effectively protecting domestic purchasing power.
The single European currency is introduced. The SNB closely monitors this new economic giant. The exchange rate then comfortably floats around 1.60 CHF for 1 EUR.
Dramatic influx of international capital into the Swiss "safe haven." The franc appreciates violently, forcing the central bank into its first aggressive rate cuts.
Faced with the sovereign debt crisis in the Eurozone and the uncontrollable overheating of the CHF, the SNB sets a minimum exchange rate of 1.20 CHF per 1 EUR, committing to buy euros in unlimited quantities to defend it.
Surprise abandonment of the exchange rate floor. The Swiss currency instantly soars by 30% against the euro, triggering a shockwave. The SNB then introduces a record-low negative policy rate of -0.75%.
To combat the global inflation crisis triggered by the pandemic, the SNB carries out several consecutive rate hikes to normalize the cost of money and protect its domestic economy.
With inflation under control again in Switzerland, the SNB becomes the first major central bank to initiate a cut in its key interest rate. Paradoxically, the CHF remains at historic highs below parity (1 EUR = less than 1 CHF).
The following currency pairs are available with Swiss Franc through our online currency exchange service:
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