Swiss franc rate changes overnight

Jan 16th, 2015, 11:06 AM
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Join Date: Mar 2005
Posts: 1,060
Swiss franc rate changes overnight

This morning we were discussing our next vacation, maybe to Switzerland, and when I took a quick look at the exchange rate I was in for a big shock. Last time I looked the rate was $1.09 USD = 1 CHF, but this morning it’s $1.17 USD - 1 CHF.

I Googled it, and apparently the Swiss National Bank “dismantled its ceiling on the value of the Swiss franc”. This is one of the articles I read:

Great. The article says, "Exchange rate movements have yet to settle down, but seem to be headed for something closer to a 15%-25% increase in the value of the Swiss franc.”

I am clueless as to what this means. Anyone? Thanks.
Iwan2go is offline  
Jan 16th, 2015, 11:12 AM
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Switzerland just got 20% more expensive. There will be fewer tourists in town
bilboburgler is online now  
Jan 16th, 2015, 11:16 AM
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“The overarching fundamentals of the euro story remain in place to push the euro lower.” From Bloomberg

If you're headed to Switzerland, it'll get more expensive. If you're going to a Euro currency country, it'll be cheaper.
apersuader65 is offline  
Jan 16th, 2015, 11:23 AM
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Awww. Guess who's going to Germany next year?
mokka4 is offline  
Jan 16th, 2015, 11:28 AM
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I think I’m looking into Germany. Switzerland was already looking a little higher than we wanted. Bummer. The trip will be in August….we wanted to be cool. Back to the drawing board, I guess.
Iwan2go is offline  
Jan 16th, 2015, 11:28 AM
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Switzerland will resort to being as expensive as it used to be when the franc was nearly that high and has been about $1.10-1.14 to the dollar for the past few years.

Folks buying Swiss Passes and train products may now want to compare prices for those things bought in U S dollars in the U.S. thru Rail Europe (part owned by the Swiss Railways) or its agents - could save a bundle as usually dollar-based prices for railpasses do not go up right away and may not at all. Shop around and take everything you can to Switzerland.

and be prepared for sticker shock!
PalenQ is offline  
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