Euro franc exchange rate has reached its lowest level in a year.20 June 2019
The franc continues to get stronger against the euro. The euro franc exchange rate fell below the 1.1115 francs per euro today after 15:00, which is the lowest level since 2017.
Experts at Credit Suisse expect that the euro-franc exchange rate could even achieve parity in the long term. The decline in the value of the euro in recent days, and above all today, brings us one step closer to this brand. Above all, this would be a challenge for the Swiss industry, which exports a large part of the goods and services produced to the euro area or issues invoices in euros. These companies will receive your payments in Euros to a Euro account. Thereafter, the company has to change euros in Swiss francs and, at a low EUR exchange rate, receives correspondingly less in Swiss francs. It is a topic that has been discussed politically for several years, but especially since the abolition of the minimum exchange rate of EUR 1.20 by the Swiss National Bank on 15 January 2015. At that time, there was already parity with the euro, this was even significantly undercut and At that time, the franc was more expensive than the euro over a longer period of time. Just eight years earlier, the euro exchange rate was still 1.68 francs per 1 euro.