Let’s talk cash! –
In 2024, the franc continued to strengthen against the euro
Once a month, in collaboration with Change Migros, we offer you a column dedicated to currency exchange issues.
Alexandre Allantaz – Migros Change Director
Published today at 10:00 a.m.
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In 2024, the exchange rate between the franc and the euro fluctuated between 0.9267 and 0.9924 francs per 1 euro, reflecting an overall strengthening of the Swiss currency. This appreciation is explained by its status as a safe haven, reinforced by economic and geopolitical uncertainties, as well as by controlled inflation in Switzerland, lower than that of the euro zone.
The average exchange rate over the year was 0.9527 francs for 1 euro. The highest rate was recorded on May 24, 2024, when 1 euro was worth 0.9924 francs. Conversely, the lowest rate was recorded on December 10, with 1 euro worth 0.9267 francs.
The Swiss National Bank (SNB) lowered its key rates twice, from 1.75% to 0.5%, in order to limit the overvaluation of the franc and preserve the competitiveness of Swiss exports. Despite these efforts, the Swiss currency remained strong, supported by increased demand from investors seeking stability.
-2024 confirmed the central role of the franc in global financial markets, while illustrating the challenges for the SNB facing a popular currency in a global economic environment marked by caution and uncertainty.
In 2025, the rate should stabilize between 0.91 and 0.95 francs per 1 euro, with a possible slight appreciation of the franc. This trend would be supported by its status as a safe haven, controlled inflation in Switzerland and prudent monetary policy from the SNB.
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