Those of our readers planning on buying Swiss Francs in the short-term future are seeing improving rates on almost a daily basis at the moment.
The Swiss National Bank has had a job on its hands as in the eyes of many, the Swiss Franc has been overvalued for some time now. Due to the currency’s status as a safe haven currency investors tend to pool their funds into CHF in times of market uncertainty.
Over the years this has presented a problem for the SNB, and its lead to them adopting one of the most loose monetary policies globally. If we take the GBP to CHF exchange rate as an example, it’s currently trading around an 18-month high with CHF losing quite a lot of value recently in relation to other currencies.
CHF has lost 1.5% against GBP with week and over 6.5% over the past two-months to put things into perspective for our readers. The Swiss Franc’s performance against the Euro is also beginning to hit the headlines after losing a similar amount of value when paired with EUR, although the current level is a preferred one for the SNB as they’ve been attempting to soften CHF’s value through the momentary policies implemented.
Wednesday will be the next key date for Swiss economic data releases as Retail Sales figures will be released. Do feel free to get in touch if you wish to be updated should CHF exchange rates move dramatically.
If you have a large currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency. A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Joseph Wright) on [email protected] and I will endeavour to get back to you as soon as I can.