The Swiss franc is stronger than it has been for a long time. Experts cite the energy crisis in Europe and the comparatively low inflation in Switzerland as reasons, among other things.
Apart from one day of chaos in 2015, the euro is weaker than ever against the Swiss franc. The European currency fell to 0.9617 francs in trading before recovering slightly in the evening.
Only on the day when the Swiss National Bank surprisingly lifted the minimum euro exchange rate of 1.20 francs in 2015 did the currency fall even lower with a brief spike.
For comparison: the exchange rate when euro cash was introduced on January 1, 2002 was CHF 1.48. It even rose to more than 1.60 francs afterwards.
Forex traders cited the Russian war against Ukraine, the European Central Bank’s lower interest rates, the energy crisis in Europe and the comparatively low annual inflation in Switzerland of 3.4 percent as reasons for the strong franc. (dpa)