1. Guides
  2. Country Guides (A-Z)
  3. Switzerland - Foreign Exchange & Currency Guide

Foreign Exchange Guide to Switzerland

Latest market mid-rate: 1.0 =

Country Code:
CH
Domestic Currency:
Swiss franc
Symbol - Code:
Fr CHF
Telephone Prefix:
+41

In this guide we review :

  1. Swiss franc info - general info about the Swiss franc
  2. Swiss franc in the markets - recent CHF moves and predictions from the FX markets
  3. Travelling in Switzerland - currency & money saving tips
  4. Buying Swiss franc cash online - travel money for Switzerland
  5. Sending money to Switzerland - save on Swiss franc bank transfers to Switzerland
  6. Swiss franc exchange rates - latest info & charts.

Swiss franc (CHF) general currency information

The three letter currency code for the Swiss franc is CHF and the symbol is Fr. It is the domestic currency in Liechtenstein and Switzerland.

Contributing to roughly 5% of the foreign exchange market’s daily turnover, the Swiss franc (ISO: CHF) is the world’s seventh most traded currency.

The Swiss franc is traditionally considered Europe’s safe haven currency due to factors including Switzerland’s traditional position as a politically neutral country, its reputation for stability, impressive financial system, historically low inflation and its ability to consistently run a trade surplus. For this reason, the franc is likely to increase in value during periods of economic uncertainty or when global geopolitical risk is elevated, or during bouts of high market volatility.

To prevent unwanted currency appreciation, between September 2011 and January 2015 the franc’s value was pegged to the euro at a rate of Fr. 1.2. When Switzerland’s central bank unexpectedly abandoned the peg in 2015 it caused significant market turmoil.

Since 1995, against the world’s reserve currency, the US dollar, the Swiss franc’s lowest valuation came in October 2000 when CHF/USD traded at just 0.5465. Its post-1995 high came in August 2011 at 1.4152.


Swiss franc (CHF) in the markets

Against the euro, in mid-October the Swiss franc remained close to long-term lows. The franc had weakened more than 7% on the year to a rate of 1.155 per euro.

In October, USD/CHF twice rallied to 0.9836 – the franc’s weakest level against the dollar in five months.

The Swiss National Bank do not hide their desire for a weaker franc. The bank expressed its happiness with 2017’s depreciation against the euro at its September meeting, saying that recent movements were “helping to reduce the significant overvaluation of the currency.” The bank added that “negative interest rates and the SNB’s willingness to intervene in the foreign exchange market remain essential in order to reduce the attractiveness of [Swiss francs].”

The SNB will get their wish according to analysts at both Credit Agricole and Bank of America Merrill Lynch.

The franc will weaken to 1.18 per euro in the medium term, said Credit Agricole in October. A higher EUR/CHF rate will be driven by the diverging paths of monetary policy between the ECB and SNB.

BAML went one further, predicting that the franc would weaken to at least 1.20 against its bigger brother. BAML believes that investors will sell francs to buy higher-yielding currencies and says that EUR/CHF “looks cheap relative to its longer-term moving averages.”


Switzerland currency and money saving tips

Switzerland is a well organized and safe country, however it is not cheap. Car rental can be pricey when you include the cost of fuel. Booking a rail pass helps you plan what you will be spending, and children travel for free. If you intend to travel by train, boat, bus or cable cars, a rail pass will help you save money. Take advantage of the rail pass extras. For example, the Swiss Travel Pass includes free entrance to hundreds of museums and allows free traveling on the most beautiful scenic routes, and some cable cars and cogwheel trains are free instead of discounted. Even without a rail pass, traveling is free in some cases if you stay at certain hotels. Booking seats is not required for most trains, so you can save money by not doing so. Budget hotels are available, however top tourist towns are generally quite expensive.



Switzerland Trip Checklist   

  1. Compare CHF travel cash rates - probably why you are here!
  2. Hotel deals - Save on your accomodation in Switzerland
  3. Travel insurance - for those unexpected travel adventures...
  4. Lonely Planet - world's best travel guide (coupon and deals)

Travel money for Switzerland

Save money and time by Ordering your Swiss franc online from Travelex, you get better rates and can pick up the CHF cash locally or even on travel day at the airport.

Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.

For card purchases if offered a choice of currencies always select to Pay in Swiss franc otherwise you may get much worst exchange rates.



Sending money to Switzerland

When sending money to Switzerland it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 3 simple steps :

  1. Open an account with a BER reviewed FX provider (id docs may be required)
  2. You specify the local or Swiss franc amount you want to transfer
  3. Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
  4. Once your funds are received by the provider the converted CHF amount will be transfered to the recipient account you specify in Switzerland.

By comparing the rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Swiss franc deposited into the recipient bank account in Switzerland and less margins and fees kept by the banks!


Swiss franc - exchange rates

Loading CHF/USD Chart
CHF calculator

Major CHF cross rates
View Full List (A-Z)
1CHF=

Best Exchange Rates - We make it Easy to Compare Exchange Rates & Fees of Banks and Currency Exchange & Payment Providers


Level 2, AMP Tower, 50 Bridge Street, Sydney, NSW 2000, Australia

Disclaimer | Copyright | Privacy Statement


DISCLAIMER

Best Exchange Rates is an information only service. By browsing on the website, using our comparison tools or FX provider referral service, you are asking Best Exchange Rates to provide you with information about currency exchange products & services from multiple financial institutions.

We will try to show you a range of products & services in response to your request for information. The search results do not include all providers and may not compare all features relevant to you. In giving you product information we are not making any suggestion or recommendation to you about a particular product.

If you decide to conduct foreign exchange you will deal directly with a financial institution, and not with Best Exchange Rates. Rates and product information should be confirmed with the relevant financial institution, see our terms of use for further details.

Best Exchange Rates may receive fees or other benefits in relation to activity on the Best Exchange Rates website. Best Exchange Rates may receive remuneration for vendor referral links. Please note that the opinions of our authors are their own and do not reflect the opinion of Best Exchange Rates and should not be taken as a reference to buy or sell any financial product.

Read our Full Terms of Service



COPYRIGHT

This website and its contents are the copyright of BEST EXCHANGE RATES PTY LTD © 2009-17. All rights reserved.

Any redistribution or reproduction of part or all of the contents in any form is prohibited other than the following. You may print or download contents to a local hard disk for your personal and non-commercial use only. You may copy some extracts only to individual third parties for their personal use, but only if you acknowledge the website as the source of the material.

You may not, except with our express written permission, distribute or commercially exploit the content. You may not transmit it or store it on any other website or other form of electronic retrieval system.

For more details or request distribution right please contacxt us here.