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.
Popular Stories
More
Swiss Abroad
Switzerland’s priciest street makes room for a bakery shop
Should raw milk sales be banned or should consumers decide?
Swiss food regulations do not allow raw milk to be sold for direct consumption. However, a loophole allows 400 raw milk vending machines to do just that.
Is artificial intelligence an advantage or a disadvantage for workers?
What is your experience with AI at work? Have you already used it? Has it helped you work better? Or has it caused you more stress, more work or caused you to lose your job? Tell us about your experiences!
Austrian right-wing extremist arrested by Swiss police
This content was published on
The Austrian right-wing extremist Martin Sellner entered Switzerland on Saturday despite being banned from entering the country.
All Swiss listed companies have a climate strategy
This content was published on
All major listed Swiss companies have a climate strategy. This puts Switzerland ahead of neighbouring Germany and Austria, says a study by Kirchhoff Consult and BDO.
Local birds are stars of this year’s Bern light show
This content was published on
The Rendez-vous Bundesplatz light show enters a new round on Saturday. This year, birds will be chirping, squawking and fluttering all over the façade of the federal parliament.
EU urges countries to keep demining in Ukraine permanently on the agenda
This content was published on
The Lausanne Ministerial Conference on Humanitarian Demining in Ukraine led to pledges from more than 40 countries to help the war-torn country.
This content was published on
Researchers at the University of Zurich have used artificial intelligence to detect antibiotic-resistant germs for the first time.
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.