Swiss franc rate changes overnight
Jan 16th, 2015, 10:06 AM
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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:
http://qz.com/328159/swiss-pioneers-...the-us-dollar/
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.
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:
http://qz.com/328159/swiss-pioneers-...the-us-dollar/
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.
Jan 16th, 2015, 10:16 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.
If you're headed to Switzerland, it'll get more expensive. If you're going to a Euro currency country, it'll be cheaper.
Jan 16th, 2015, 10:28 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.
Jan 16th, 2015, 10:28 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!
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!
