The Swiss franc is soaring in value against the US dollar and euro.
AFP
The Swiss franc has jumped to its highest level against the dollar since 2015, when Switzerland’s central bank abandoned its policy to contain currency strength.
This content was published on
2 minutes
Keystone-SDA
Português
pt
Franco suíço se valoriza e atinge maior alta em vários anos
The currency reached CHF0.8551 per dollar on Friday, its strongest level in almost nine years. Versus the euro, the franc rose as high as CHF0.94112.
+ What lies ahead for the Swiss economy?
The franc is outperforming all its G10 currency peers this year, bolstered by the view that the Swiss National Bank’s (SNB) preference for a stronger domestic currency will keep it afloat.
Last week, the central bank said that it was still willing to continue intervening in currency markets, but added that foreign currency operations could go in both directions following a focus on selling since mid-2022 to minimise inflationary risks.
Swiss inflation has stayed within the central bank’s target range of between 0 and 2% since June, backing its decision to keep rates unchanged since its last hike at its quarterly meeting in June.
As the economy slows, markets are pricing for the SNB to begin cutting rates in March.
This content was published on
The Swiss National Bank is extending its pause in interest rate hikes by keeping the key rate at 1.75% for the second time in a row.
This news story has been written and carefully fact-checked by an external editorial team. At SWI swissinfo.ch we select the most relevant news for an international audience and use automatic translation tools such as DeepL to translate it into English. Providing you with automatically translated news gives us the time to write more in-depth articles. You can find them here.
If you want to know more about how we work, have a look here, and if you have feedback on this news story please write to english@swissinfo.ch.
External Content
Your subscription could not be saved. Please try again.
Almost finished… We need to confirm your email address. To complete the subscription process, please click the link in the email we just sent you.
What do you think Switzerland’s Alain Berset can bring to the Council of Europe?
The former interior minister is to become the first Swiss Secretary General of the Council of Europe – which issues should his five-year term focus on?
How is your country dealing with the return of stolen artifacts?
Western nations like Switzerland often have to deal with the process of recovering or returning looted artifacts which have been illegally imported. What’s the situation like in your country?
Norwegian zombie film wins main prize at Swiss festival NIFFF
This content was published on
More than 55,000 people celebrated the fantastic film at the International Fantastic Film Festival in Neuchâtel (NIFFF) - fewer than last year.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.