The Swiss franc (CHF) is facing significant headwinds due to the recent U.S. tariffs, particularly the 39% levy on Swiss exports imposed in July 2025. This has led to a depreciation of the CHF, creating considerable stress on Switzerland's export-driven economy. Analysts have noted that the Swiss National Bank’s (SNB) response included increasing foreign currency purchases to 5.06 billion CHF, its largest intervention in over three years, aimed at stabilizing the currency amid these pressures. Furthermore, the SNB is expected to hold interest rates at 0.00% well into 2026, which reflects a cautious approach due to deflationary pressures stemming from a strong CHF that has made imports cheaper.
In contrast, the Chinese yuan (CNY) appears more resilient, with recent efforts by the People’s Bank of China to strengthen its standing in international trade through the promotion of the yuan and the digital yuan. The yuan's exchange rate is being actively managed to prevent excessive fluctuations, especially as the ongoing trade dynamics with the U.S. create instability. Notably, the yuan's recent climb against the U.S. dollar, reaching its highest level in ten months, reveals a potential recovery in China's economy, bolstered by government stimulus measures.
Current CHF to CNY exchange rates show the CHF has recently reached 7-day highs near 8.8472, just below its three-month average of 8.9179, indicating a relatively stable trading range with only a 2.9% fluctuation observed. Currency experts suggest that while the CHF is currently susceptible to external shocks, especially from the United States, the CNY’s ongoing stabilization measures could provide a supportive backdrop for the Chinese currency.
As global economic conditions continue to evolve, it remains essential for individuals and businesses engaging in international transactions to closely monitor these developments, as movements in either the CHF or CNY could have significant implications for exchange rates and overall transaction costs.
