The lowdown on the Swiss franc
The Swiss Franc is accepted in the following countries:
- Italian Exclave (Campione d’Italia)
Economical Influences and the Swiss Franc
If you are considering converting AUD to CHF, it is good to get a snapshot on how the economy of the country influences the Switzerland exchange rate.
The Franc is seen by some as the “neutral” currency and a safe haven for the foreign exchange market; which may be partly due to the Swiss National Bank limiting Swiss Franc’s trades in the foreign exchange market to keep interest rates stable and to reduce volatility.
Although Switzerland is not a member of the European Union (EU), its surrounding Eurozone Neighbours are its main trading partner - with approximately 78% of Swiss imports coming from the EU.1
Swiss Franc Historical Exchange Rate
15th January 2015 was a significant moment in recent CHF exchange rate history. The Swiss National Bank made a surprise announcement that the Swiss Franc will no longer hold a minimum exchange rate with the Euro. This was particularly significant during the period with the European debt crisis and a loose monetary policy diminishing the attractiveness of the US Dollar. 2
This announcement by the Swiss Central Bank caused the Franc to surge by around 30%; and subsequently, the AUD by 2.4% due to the absence of one of the largest buyers of euros from the market meaning the Australian dollar should trade higher against the euro.3
Exchange rates last updated Thursday, 29 October 2020 12:01:07 PM AEDT. The online exchange rates provided by this Currency Converter are intended as a guide only and should not be used for transactional purposes. All rates are subject to change from time to time without notice. Exchange rates used in-store may differ from those offered online. The Travelex online buy rate will be used for conversions from a foreign currency to the local currency. The Travelex online sell rate will be used for conversions from the local currency to a foreign currency.
Travelex Historical Rates for conversion of [FromCurrencyIso] to [ToCurrencyIso]: Last month
Travelex Historical Rates for conversion of [FromCurrencyIso] to [ToCurrencyIso]: 3 months
Travelex Historical Rates for conversion of [FromCurrencyIso] to [ToCurrencyIso]: 6 months
Travelex Historical Rates for conversion of [FromCurrencyIso] to [ToCurrencyIso]: 12 months
How to see Travelex historical rates
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1 Confederation Suisse - https://www.eda.admin.ch/aboutswitzerland/en/home/wirtschaft/uebersicht/wirtschaft---fakten-und-zahlen.html
2 Swiss National Bank - https://www.snb.ch/en/mmr/speeches/id/ref_20160502_tjn/source/ref_20160502_tjn.en.pdf
3 Sydney Morning Herald - https://www.smh.com.au/business/markets/australian-dollar-rises-after-swiss-franc-shock-but-could-yet-fall-below-us70-20150116-12rrux.html
*The information contained in this article has been compiled by Travelex from different external sources. The figures provided are indicative only and are there to provide an idea of the amount of travel money you may need during your trip. Travelex does not ensure the accuracy and completeness of the information shown. Nothing in this article is to be considered financial advice. Travelex Limited does not accept any liability for any loss or damage derived from any reliance on the information in this article. Travelex Limited (ABN 36 004 179 953, AFSL Number 222444) arranges for and sells Online Foreign Currency via its Online Ordering Facility. You should consider the Online Foreign Currency Product Disclosure Statement and Terms and Conditions before deciding whether to acquire the product.