Exchange Rate Now!

Known informally in the forex market as the “Swissy”, the US dollar (USD) / Swiss Franc (CHF) is one of the most traded pair of currency in the world. What makes this pair interesting is the comparison ratio of this pair. The US Dollar and the Swiss Franc are trading at near parity. Although the Swiss Franc (CHF) exchange rate to the US Dollar (USD) is 1.19 in 12 Mar 2009 @ Swiss Franc = 1 US Dollar, this exchange rate has came down to the current level of 1.05 Swiss Franc = 1 US Dollar.

Of course, trading at this level begs the question on whether the Swiss Franc will eventually be more expensive than the US Dollar, just like what happened to the Euro. This is a difficult question to forecast, at least in the immediate future. With the global financial crisis just abating, key indicators from both countries will determine the trading trend in the forex market. From Switzerland, the UBS consumption indicator will be the one to watch (more…)

Besides United Kingdom, Switzerland is another country that has yet to jump onto the Euro bandwagon. Swiss Franc (CHF) is the currency used  Switzerland and there has been no signals from the Swiss government that they will adopt the Euro anytime soon.

Due to the unique status of Switzerland as a banking haven as well as a self-designated “neutral” country during war times, Swiss Banks are the magnet for storage of investments from wealthy individuals (and sometimes crimimals) all over the world. These people park their investments as gold (stored in gold vaults), in foreign currencies (in Swiss Banks) or simply leave it to investment firms to manage their finances in whatever manner is deemed fit.

Swiss Franc, as a result of Switzerland’s financial stability and reputation, remains one of the most traded currency in the world, ranked 5th, just behind the US Dollar (USD), Euro (EUR), Japanese Yen (JPY) and the Sterling Pound (GBP).

Currently, 1 Swiss franc trades at 0.658 Euros, which has stabilised since the spike in Mar 2009 (between 0.65 and 0.68 within 1 week!) (more…)