The franc has almost never been so strong against the euro

It’s Christmas early for Swiss consumers and travelers in neighboring France, and for European cross-border workers working in Switzerland.

The franc reached one of its highest levels against the euro this Thursday. At 9:20 a.m., 1 euro was worth only 0.9290 francs at the interbank rate (on international markets). Consequently, in Change Migros pharmacies, for example, the conversion rate offered from 1000 francs is 0.9390 euros this Thursday around 5:30 p.m. Thus, for 4000 francs, we obtain 4260 euros.

As a reminder, according to our information, the last recent record for the franc dates back to January 3, when 1 euro was worth only 0.9273 francs.

“Auspicious moment”

Columnist for the “Tribune de Genève”, Alexandre Allantaz, director of Change Migrosexplains this situation “mainly due to the effect of the prudent policy of the Swiss National Bank (SNB) and persistent geopolitical tensions, which reinforce the traditional role of the Swiss currency as a safe haven”.

For the end of the year, the specialist sees two scenarios emerging: “If geopolitical tensions reduce and the euro zone economy stabilizes, the euro could strengthen slightly, pushing the rate towards 0.97 franc for 1 euro.” Conversely, “in the event of continued uncertainties and new economic pressures in the European Union (EU), the rate could fall towards 0.95 francs per 1 euro, or even less”.

And the manager concluded: “In summary, if you need to convert francs to euros for immediate expenses, now is the right time.” To the wise!

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Fabrice Breithaupt has been a journalist and PR editorial secretary since 1995. He deals with Franco-Swiss cross-border issues, but also real estate, employment and training.More info

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