Buy EUR at 0.9245: CHF Earners Get Slight Relief Before SNB Decision

A Slightly Better Rate Than Last Week

For workers earning in CHF and paying expenses in EUR, the latest move is mildly positive.

At the 0.9258 rate from 12 June, buying 5,000 EUR cost 4'629 CHF. At today’s 0.9245 rate, the same transfer costs 4'622.5 CHF.

The difference is not large, but it shows that EUR/CHF has eased slightly after last week’s move higher. For regular monthly transfers, even small changes can matter when rent, bills, groceries, fuel or family expenses are paid in euros.

Still More Expensive Than Early June

The broader picture is less comfortable than the one seen at the beginning of June.

At the 0.9208 rate from 7 June, buying 5,000 EUR cost 4'604 CHF. At today’s rate, the same exchange costs 18.5 CHF more.

Compared with the strongest recent reference point of 0.9147 in late May, today’s rate is 49 CHF more expensive for a 5,000 EUR exchange. On the other hand, it is still better than the late April reference point of 0.9287, when the same transfer would have cost 4'643.5 CHF.

This means CHF earners have recovered a small part of last week’s loss, but the most favourable window from late May and early June has not returned.

SNB Decision Becomes the Main Event

The key date now is 18 June, when the Swiss National Bank will publish its next monetary policy decision.

According to a Reuters poll conducted between 11 and 15 June, economists expect the SNB to keep its policy rate at 0%. The same poll also suggests that rates may remain unchanged for the rest of 2026.

For EUR/CHF, this matters because the European Central Bank has already raised rates by 25 basis points. From 17 June, the ECB deposit facility rate rises to 2.25%, while the SNB rate is still expected to remain at 0%.

If this difference stays in place, the euro may continue to receive some support against the franc. For people paid in CHF and buying euros, that would mean EUR purchases may remain less favourable than they were at the start of June.

German Sentiment Improves, but Caution Remains

There was also a new signal from Germany, the largest economy in the euro area.

The ZEW economic sentiment index improved strongly in June, rising to 10.5 points from minus 10.2 in May. That points to better expectations among financial market experts.

However, the current situation assessment remains weak. This means the data should not be read as a full recovery signal. It is better understood as a cautious improvement in expectations, supported by hopes that energy-price pressure may ease.

For the euro, this kind of data can help sentiment, but it does not remove the broader uncertainty around growth, inflation and central bank policy.

Swiss EU Relations Add Domestic Context

Switzerland also delivered an important domestic signal.

Swiss voters rejected a proposal to cap the population at 10 million, a measure that could have created tension with the European Union and affected access to foreign labour. Shortly afterwards, a new poll showed that 62% of Swiss voters support a broader agreement to deepen economic ties with the EU.

This is not a direct short-term exchange-rate trigger like an SNB decision. Still, it matters as background for Switzerland’s economic stability, labour market and relations with its main trading partner.

For cross-border workers and companies operating between Switzerland and the euro area, Swiss-EU relations remain an important topic to watch.

Practical Takeaway

At 0.9245, buying 5,000 EUR costs 4'622.5 CHF, which is slightly better than last week’s 0.9258 rate but still more expensive than the 0.9208 level seen on 7 June.

The next key signal is the SNB decision on 18 June. If the SNB keeps rates at 0% while the ECB has already raised rates, EUR/CHF may remain sensitive to interest-rate expectations, euro area data and Swiss economic headlines.

For regular CHF-to-EUR transfers, comparing providers makes a direct difference to the final cost. At today's rates, ExchangeMarket.ch clients save up to 60 CHF on a 5,000 EUR exchange.