NEWS

This afternoon the euro franc exchange rate broke through the 1,076 barrier, the lowest level in almost 3 years. The strength of the Swiss franc is due to global uncertainty, especially tensions in the Middle East and fear of a new economic crisis. According to experts, the exchange rate will settle in this area in the middle period.

You can find the current euro exchange rate at which you can buy euros at ExchangeMarket.ch/de

The Swiss National Bank has informed it expects to close 2019 with an annual profit of CHF49 billion (around $50.29 billion per latest exchange rate), as gains from foreign stocks and bonds purchased have influenced its financial results.

In 2019 the unemployment rate in Switzerland fell to 2.3%, hitting the lowest point in almost 20 years, meaning labour market is in good shape despite economic slowdown. Meanwhile, trade unions prepare to defend wages in UE-Switzerland deal.

After brief panic on financial markets following rising tensions in the Middle Easter due to US air strike killing Iranian top general, situation is going back to normality, and safe haven currencies retreat from highs.

Safe-haven currencies, including the Swiss franc, the Japanese yen, gold, as well as US Treasuries and oil prices surge on Friday after tensions rose in the Middle East following US air strike in Iraq that killed a major Iranian general.