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Swiss Franc so HIGH :(

Singapore
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682 posts
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Swiss Franc so HIGH :(

It's already so costly there and now CHF is going up up and up T_T

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bern
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1. Re: Swiss Franc so HIGH :(

Yes it's a huge problem for this country. There are less tourists comming and even worse, exporting companies (Switzerland is small, a big part is export) are getting in very big troubles. The only thing that seems sure that it cannot continue much longer like this. Some are already asking the national bank to print more Swiss Francs, but this is very risky as this could end up in inflation.

If you are going this year you can just simply hope that it doesn't get worse and safe monney with eg. with not eating to much in restaurants.

Singapore
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2. Re: Swiss Franc so HIGH :(

Are you visiting switzerland this year? I have already booked my trip and am contemplating whether I should cancel or visit the nearby regions instead.

Martigny...
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for Switzerland
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3. Re: Swiss Franc so HIGH :(

here is something to think about -

Buy Swiss francs now to cover your costs for your trip. That way you lock in a rate and are sure that any future rise will not affect you. You can do this by either getting a forward contract with your bank OR - easier! - just buy travellers cheques in CHF.

I seriously doubt that the CHF will go down in the next year. I would be very happy to be wrong!!

Singapore
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4. Re: Swiss Franc so HIGH :(

however even if i buy now it's way too high... unless it's still climbing up :((((

Martigny...
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5. Re: Swiss Franc so HIGH :(

It is still going up and will most likely continue to go up.

Basel / Switzerland
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6. Re: Swiss Franc so HIGH :(

I wouldn't bet that the Franc will be stronger vs. EUR next year compared to the level right now. (1.0853) Could be manouvered in a range 1.08-1.14 to the EUR. But if Italy's or Spain's situation is worsening..... good night....

US Dollar is a different thing. It is not clear, wheather they really want a stable dollar thermselves, or if they want to get rid of their debts via inflation. The tug of war between Republicans and Democrats won't help either.

Anyway, the EUR is for our exporters ways more important than any other currency.

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7. Re: Swiss Franc so HIGH :(

I think the Swiss Tourism Board need to do something about this... Need to do something to attract tourist. Hotels are getting expensive, as well as train tickets... I even think the Swiss travel pass are not cost benefit... More people are choosing US, rather than Australia and Switzerland as travel destination for this year. 

Martigny...
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for Switzerland
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8. Re: Swiss Franc so HIGH :(

I am sure that Swiss Tourism is more than well aware about all the problems caused by the high franc. So is everyone else in the country!! Unfortunately the cause is not our fault, and the remedy is really not in our hands...

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9. Re: Swiss Franc so HIGH :(

I'm considering asking if I can pay for my train, accommodation and lift pass in Gold. Though by next winter I think I'd need a wheelbarrow.

Basel / Switzerland
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10. Re: Swiss Franc so HIGH :(

@JoeDevlin

You hit the nail on the head

If you pay in Swiss Franc you pay in gold, as a matter of fact, as it is the only currency, which is entirely covered by gold. 1 franc in circulation equals 1 franc somewhere in a cellar in form of gold. Well, almost entirely.

And exactly that is the problem. It is used as safe haven for many whealthy worldwide, and this is leading to those crazy exchange rates.

Once we charged debit interests to folks using our currency as safe haven. Kind of insurance fee. Maybe we should do that again. It chases away speculators.