Swiss francs cost more than one euro: price shock for vacationers

“You must have miscalculated,” exclaimed the German tourist at the next table. More than 100 francs for two main courses, two glasses of wine, a bottle of mineral water and an espresso – that can’t be! Yes, that’s normal in Swiss restaurants, where the high salaries, rents and shopping costs have to be earned back. In the past, shocked visitors from neighboring countries could console themselves a little with the fact that the requested payment, calculated in euros, was a bit milder. Because one euro cost more than one franc. But that is over: For one franc there is currently only 0.97 euros.

As a reminder: When the euro was introduced at the beginning of 2002, it cost 1.48 francs. In the course of the financial crisis, the Swiss franc appreciated because investors sought refuge in the safe haven of Switzerland: With their increased demand for the Swiss currency, its market price rose. In September 2011, the Swiss National Bank (SNB) introduced a minimum euro exchange rate of 1.20 francs to protect the domestic export industry, whose goods are becoming more expensive when sold abroad as a result of the appreciation of the Swiss franc. After it was lifted in January 2015, the Swiss franc strengthened again.

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