With the currency markets moving every two seconds, it can be vitally important to be aware of what is driving the currencies in or out of your favour. The table below shows the difference in Swiss Francs you would have achieved when buying £200,000 during the course of this year to date.
|Currency Pair||% Change||Difference on £200,000|
Those following the Swiss Franc will be aware of its sudden drop in recent weeks and months. The drop against the Pound hasn’t been quite as dramatic as the fall against other major currency pairs but to put things into perspective for those only following GBP/CHF, the Swiss Franc has fallen by around 5% against the Euro just in the last 5-weeks. Whilst the slide will have been welcomed by Swiss exporters, which there are many as Switzerland is a country famous for some of its exports such as watches and cheese among others, the currency doesn’t usually fluctuate so much in such a short space of time as the currency is generally considered a safe haven and steady currency (as opposed to the South African Rand for example).
Many economists don’t think that there will be a change to the current batch of monetary policies within Switzerland, with some stating that the Swiss Franc could fall a bit further between now and the end of 2018 when changes are generally expected to be made.
There is no economic data scheduled for release in Switzerland between now and the end of the week, which gives our clients plenty of time to make us aware of any upcoming currency requirements they plan on making.
Next week on Tuesday morning there will be the release of Producer and Import Prices which will reflect the change in the cost of imported goods for both the month of July and also year on year. If you would like to be kept updated regarding this release as well as any major moves for the Swiss Franc in the meantime, do feel free to get in touch.
The Pound is actually up against the Swiss Franc by around 2% over the past month alone, so if you are planning on exchanging Pounds to Swiss Franc’s it may be worth getting in touch as the situation for the Pound is different in most cases. You can call in for live quotes on 01494 725 353 between 8.30am to 6.00pm.
Thank you for reading my CHF currency report, if you have any questions about an upcoming transfer I would be more than happy to discuss any queries you have. Please feel free to get in touch here.
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Successful transfer to France. I have used Foreign Currency Direct several times. Nothing is too much trouble to explain, and when it comes to the actual transfer, it takes place on time without fuss. Never had a problem. Thank you Joseph!
Very efficient and responsive. We had great service from Joe Wright who helped us (patiently and with humour) through our currency purchase and was then able to guide us through the process of sending money to France for our property purchase.
Joseph treated us very professionally as well as friendly, and advised and went beyond his duty. Would recommend and use him again.