NEWS

The coronavirus pandemic and lockdown will have huge impact on the Swiss economy that, according to estimates, will lose an estimated CHF22 billion due to lost productivity. And this is just the best-case scenario as claims economists.

US dollar has strengthened its position against other major currencies for a third day in a row on Friday. Investors still look to the most liquid currency in the world in times of the coronavirus pandemic.

As the coronavirus pandemic is spreading across the world and hitting hard Europe and the US now, the US dollar rallies against all major currencies and emerging markets’ currencies.

Swiss National Bank kept interest rates at minus 0.75%, while also announcing plans to support the economy and make it easier for banks with limiting restrictions put on them in the wake of the coronavirus pandemic.

As Switzerland is taking more harsh measures to fight the spread of coronavirus, cross-border traffic is on the decline and some people get turned away at borders.