The Swiss franc (CHF) is the official currency of Switzerland and Liechtenstein. It is also used as a parallel currency in some Italian enclaves, such as Büsingen am Hochrheinin Germany.
The Swiss franc is considered a safe haven during times of economic and geopolitical uncertainty. This means that investors tend to buy Swiss francs when confidence in the market is low.
There are several factors that contribute to the strength of the Swiss franc
Switzerland has a long history of political and economic stability, making it an attractive country for investors. Furthermore, it has a very low inflation rate, which makes the Swiss franc a relatively safe investment.
We must also consider the presence of gold reserves per capita in the world, which also strengthens the prestige of the banks, protected, however, by Bank secretmaking it an attractive place to store money and protect it from taxes and confiscations.
How to buy Swiss francs
You can turn to banks, which offer currency exchange services and can sell you Swiss francs in exchange for euros or other currencies.
Exchange offices are located in airports, train stations and tourist areas. They generally offer less favorable exchange rates than banks, but can be more convenient if you need cash quickly.
There are several online currency exchange brokers that allow you to purchase Swiss francs at the interbank exchange rate.
What is the exchange rate euro-Swiss franc?
According to the latest analyses, one euro is worth approximately 0.9727 Swiss francs. This means that to buy one Swiss franc, you need less than one euro than just a few months ago.
Several reasons contribute to this phenomenon:
The strength of the Swiss franc, which is considered a safe haven in times of global economic uncertainty, which increases its demand and value.
There is also a strong monetary policy undertaken between the European Central Bank (ECB) and the Swiss National Bank (SNB), which have adopted different monetary policies. The ECB has kept interest rates low to stimulate the economy, while the SNB has recently raised rates to combat inflation. This rate gap makes the Swiss franc more attractive to investors.
A strong influence is exerted in the economic-financial sphere by the geopolitical situation; in particular, we are referring to the current war in Ukraine, but also to global tensions, which have pushed investors to seek safe haven assets such as gold and the Swiss franc.
Finally, how important is the importance of the Swiss franc today?
If you need to convert euros into Swiss francs, this is an advantageous time to do so.
If you have Swiss francs, their value has increased in euro terms.
If you are a traveler going to Switzerland, you will get more for your euros.
