Compare Quotes To Get The Best CHF Exchange Rates
If you are doing any sort of Swiss Franc (CHF) conversion it pays to compare providers to see who can give you the best Swiss Franc (CHF) exchange rate. High street banks are the worst place to convert money as they generally have poor Swiss Franc (CHF) exchange rates. To get the best rate for large Swiss Franc (CHF) currency transfers, smaller regular money transfers or cash travel money read our guide to the top providers.
Get The Best Swiss Franc (CHF) Exchange Rates With These Currency Providers
|Currency Broker||Number of Currencies||Min Transfer||Forward Contracts||Personal Transfers||Business Customers||Same Day||Currency Options||Year Founded||Annual Transfers||Amount of Customers||Get A Quote|
|42||£1,000||12 months||✔️||✔️||✔️||❌||2015||£2bn||50,000+||Visit Key Currency|
|55+||£250||12 months||✔️||✔️||✔️||❌||1998||£2.4bn||1,000,000||Visit OFX|
|30+||£3,000||24 months||✔️||✔️||✔️||✔️||2001||£6bn||30,000+||Visit Global Reach|
|40||£100||24 months||✔️||✔️||✔️||❌||2004||£7.5bn||325,000||Visit TorFX|
|40||£100||12 months||✔️||✔️||✔️||❌||1996||£7.5bn||325,000||Visit Currencies Direct|
What is the best Swiss Franc (CHF) exchange rate?
The current best Swiss Franc (CHF) exchange rate versus other G10 currencies is the mid-market price which is:
|Australian Dollar (AUD)||1.530044614|
|Canadian Dollar (CAD)||1.342759|
|European Union Euro (EUR)||0.9998690025|
|Japanese Yen (JPY)||141.0024881|
|New Zealand Dollar (NZD)||1.681368|
|Norwegian Krone (NOK)||10.40189092|
|United Kingdom Pound Sterling (GBP)||0.8614004403|
|Swedish Krona (SEK)||10.77449827|
|States Dollar (USD)||1.042725|
Swiss Franc (CHF) exchange rate explained
The Swiss Franc is the currency of Switzerland and Liechtenstein. The FX abbreviation of the Swiss Franc is CHF.
While the Swiss economy is not in the top league in terms of size, the country’s financial sector is vibrant. Ergo, the swiss currency is very popular among traders. It is the seventh most traded currency in 2019. Moreover, the Swiss franc has long been considered a ‘hard currency’ (link). A hard currency is one that investors buy in terms of uncertainty, much like a safe-haven asset.
The Swiss National Bank is the central bank in charge of the currency and Switzerland’s monetary policy. Its chief mandate is price stability, which it equates to 2% in the consumer price index. Monetary decisions are taken every quarter (or more frequently, if necessary).
One aspect of the Swiss Franc worth noting is that it has been a negative-yielding currency. That it, the policy rate for the Swiss economy has been in negative territory since 2015 (see below). The Franc could be the funding currency for the ‘carry trade’.
What factors affect the Swiss Franc (CHF) exchange rate?
The Swiss Franc is a hard currency that its usually value appreciates during financial crises. As such, the economic and financial performances of its neighbours, particularly the Eurozone, can drive the movement of the Swiss Franc.
Eurozone – During the PIIGS sovereign debt crisis in 2009-11, investors stampeded out of the Euro into the Swiss Franc. The value of the Franc surged uncontrollably because investors feared the breakup of the Eurozone. To protect their wealth, investors bought a massive amount of Franc – a trend amplified by leveraged positions held by funds (see below).
Intervention – Another factor to consider when trading the Swiss franc is the possibility of intervention by the Swiss National Bank. The SNB has a history of intervening in the market as the Swiss Franc is so volatile. In 2011, for example, SNB feared the deflationary impact of an over-valued exchange rate, so it pegged the Franc to the Euro at 1.2000 when the rate was touching parity. This is to prevent a further appreciation of the Franc.
A few years later, when the SNB unpegged the rate out of the blue, it caused turmoil in the FX market as it was highly unexpected.
Just recently (June 17, 2021) the SNB wrote that it ‘remains willing to intervene in the foreign exchange market as necessary‘ and that the ‘Swiss Franc remains highly valued‘. This is to warn traders that it does not want the Franc to become too strong.
Interest rates – Another factor to consider when buying and selling the Franc is interest rates. Right now, the Swiss policy rate is very low. In fact, the rate is at a negative 75 basis points (-0.75%). This is because the central bank wants to cap Franc’s strength by penalising capital holding the Franc.
Despite the negative policy rate, the Swiss Franc is trading at 1.10 against the Euro, a remarkably strong position as it is close to parity and much higher in value than in 2009.
Bottom line – The Swiss Franc is a strong currency. The country’s central bank has been actively intervening in the market to prevent the Franc from surging to unacceptable levels. This led to rangebound movements in the currency and a lack of sustained directionally trend.
Getting the best Swiss Franc (CHF) Exchange Rate FAQ
Request a quote to see how much you can save – you’ll find a better Swiss Franc (CHF) exchange rate than by using your bank.
Where to find the best exchange rate for Swiss Franc (CHF)?
Comparison tables and Swiss Franc (CHF) exchange rate quote request forms will help you find the best Swiss Franc (CHF) exchange rate. Swiss Franc (CHF) exchange rate comparison tables highlight the key features of currency transfer providers whereas Swiss Franc (CHF) exchange rate quote request forms will make currency brokers compete for your business by offering the best exchange rate.
A few tips on getting the best Swiss Franc (CHF) exchange rate:
- Always compare (read our guide to comparing exchange rates here)
- Never go with your bank
- Understand the fees
- Use forward to lock in the current exchange rate
How do I know I am getting the best Swiss Franc (CHF) exchange rate?
Only go with a currency broker that offer fixed and transparent exchange rates and clearly show fees. All fees and charges should be built into the exchange rate. Have a look around currency providers’ websites, and if you find that they don’t clearly show how much a currency transfer is going to cost you will need to ensure you get a fixed mark up rate in writing to ensure you get the best Swiss Franc (CHF) exchange rate.
Should you convert Swiss Franc (CHF) now or wait for the exchange rate to improve?
If you think the exchange rate is going to go in your favour have a chat with your currency broker. Most have been providing market timing advice to institutions and hedge funds for years and should be able to provide some guidenece on strategy. Or, if you are worried the rate will move against you it is possible to lock in the current rate for up to a year in advance with a currency forward.
How do I know what the Swiss Franc (CHF) exchange rate commission is?
These are included in the exchange rate and are always fixed and transparent. Our exchange rates are always a fixed percentage from the live mid-market.
If you want to know how much the fees will be just ask and we’ll provide a clear breakdown. Read our guide on how to compare exchange rates, which also explains what the fees are and how to calculate them.
Will I really get the best Swiss Franc (CHF) exchange rate?
Yes but you’ll have to put a bit of effort it. If you are already using your bank or another currency broker send us a recent transaction and we will send you back a breakdown of exactly how much they are charging you in hidden fees and how our approach to fixed and transparent exchange rates will result in you getting the best Swiss Franc (CHF) exchange rate.
Why buy Swiss Franc (CHF) through a currency broker?
- Compare the cheapest bank beating currency exchange rates
- Expert help and advice to reduce your risk and exposure
- Dedicated account managers every step of the way
- Convert funds online and platform access 24/7
- Same day and forward currency exchange contracts
- Zero service charge, commission or transfer fees
- Transfer money direct to single or multiple beneficiary accounts
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