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[waldron] 01/10/2022 07:27

1 EUR = 0.9691 CHF


The Euro to Swiss Franc exchange rate (EUR CHF) as of 1 Oct 2022 at 7:26 AM.

[waldron] 30/9/2022 06:52

1 EUR = 0.9598 CHF


The Euro to Swiss Franc exchange rate (EUR CHF) as of 30 Sep 2022 at 6:51 AM.

[waldron] 29/9/2022 08:41

1 EUR = 0.9483 CHF


The Euro to Swiss Franc exchange rate (EUR CHF) as of 29 Sep 2022 at 8:40 AM.

[sarkasm] 28/9/2022 17:04

Foreign exchange reserves and Swiss franc bond investments

Investment structure at the end of Q2 2022

As at 30 June 2022, the key asset allocation data for the foreign exchange reserves and the Swiss franc bond investment portfolio were as follows (figures of previous quarter are indicated in brackets):

Allocation

Foreign exchange reserves

CHF bond investments
Currencies, incl. derivatives


CHF


100% (100%)



USD

38% (39%)

EUR

37% (37%)

JPY

8% (8%)

GBP

6% (6%)

CAD

3% (3%)

Other (1)

8% (7%)

Asset classes


Investments with banks

0% (0%)

Government bonds (2)

64% (64%)

33% (34%)
Other bonds (3)

11% (11%)

67% (66%)
Equities

25% (25%)



Fixed income assets (4)


AAA-rated

61% (62%)

80% (80%)


AA-rated

19% (19%)

18% (18%)


A-rated

15% (15%)

1% (1%)
Other

5% (4%)

1% (1%)


Investment duration (years)

4.9 (4.9)

7.8 (8.1)

(1) Mainly AUD, CNY, DKK, KRW, SEK and SGD plus small holdings in additional currencies in the equity portfolios.


(2) Government bonds in their own currencies, deposits with central banks and BIS; in the case of CHF investments, also bonds issued by Swiss cantons and municipalities.


(3) Government bonds in foreign currency, covered bonds, bonds issued by foreign local authorities, supranational organisations, corporate bonds, etc.


(4) Average rating, calculated from the ratings of leading credit rating agencies.

Equities are managed on a purely passive basis, whereby broad market indices of advanced and emerging economies are replicated. Exchange rate and interest rate risks are managed using derivative instruments such as interest rate swaps, interest rate futures, forward foreign exchange transactions and foreign exchange options. In addition, futures on equity indices are used to manage the equity investments.

The investment structure at year-end is also published in the Annual Report under 'Asset management'.

[sarkasm] 28/9/2022 16:54

1 EUR = 0.9459 CHF


The Euro to Swiss Franc exchange rate (EUR CHF) as of 28 Sep 2022 at 4:50 PM.

Sfr getting stronger again in nano movements

will no doubt stay this way and will sell others currences to maintain that stance, but which ones will it sell

[gibbs1] 28/9/2022 09:58

1 EUR = 0.949 CHF


The Euro to Swiss Franc exchange rate (EUR CHF) as of 28 Sep 2022 at 9:57 AM.

[waldron] 28/9/2022 08:06

1 EUR = 0.9509 CHF


The Euro to Swiss Franc exchange rate (EUR CHF) as of 28 Sep 2022 at 8:05 AM.

[waldron] 27/9/2022 07:50

1 EUR = 0.9539 CHF


The Euro to Swiss Franc exchange rate (EUR CHF) as of 27 Sep 2022 at 7:50 AM.

[waldron] 26/9/2022 18:10

1 EUR = 0.9567 CHF



The Euro to Swiss Franc exchange rate (EUR CHF) as of 26 Sep 2022 at 6:09 PM.

[grupo guitarlumber] 26/9/2022 14:24

1 EUR = 0.9548 CHF



The Euro to Swiss Franc exchange rate (EUR CHF) as of 26 Sep 2022 at 2:23 PM.

[waldron] 26/9/2022 07:57

1 EUR = 0.9515 CHF


The Euro to Swiss Franc exchange rate (EUR CHF) as of 26 Sep 2022 at 7:56 AM.

[ariane] 24/9/2022 10:49

1 EUR = 0.9507 CHF


The Euro to Swiss Franc exchange rate (EUR CHF) as of 24 Sep 2022 at 10:48 AM.

[waldron] 24/9/2022 07:57

1 EUR = 0.9519 CHF


The Euro to Swiss Franc exchange rate (EUR CHF) as of 24 Sep 2022 at 7:56 AM

[ariane] 23/9/2022 21:53

1 EUR = 0.9509 CHF


The Euro to Swiss Franc exchange rate (EUR CHF) as of 23 Sep 2022 at 9:52 PM.

[florenceorbis] 23/9/2022 18:57

1 EUR = 0.9526 CHF


The Euro to Swiss Franc exchange rate (EUR CHF) as of 23 Sep 2022 at 6:56 PM.

[waldron] 23/9/2022 11:25

1 EUR = 0.9576 CHF


The Euro to Swiss Franc exchange rate (EUR CHF) as of 23 Sep 2022 at 11:24 AM.

[waldron] 23/9/2022 11:19

Swiss Franc Retreats Despite Large SNB Interest Rate Hike


Posted by Tim Clayton in CHF, SNB, - 23 Sep 2022 11:05


The Swiss National Bank (SNB) increased interest rates by 75 basis points to 0.50% at the latest policy meeting which was in line with consensus forecasts.

The Swiss franc weakened after the policy decision with the forward guidance seen as less hawkish than expected.

Trading conditions were very choppy with currency intervention by the Bank of Japan to strengthen the yen also having an important impact in triggering a liquidation of long franc positions against the yen.

The Dollar to Swiss franc (USD/CHF) exchange rate strengthened to highs at 0.9800 before fading to 0.9730.

The Euro to Franc (EUR/CHF) strengthened from 7-year lows below 0.9500 to trade at 0.9615.

From record lows around 1.0815, the Pound to Franc (GBP/CHF) exchange rate surged to highs near 1.1100 before settling around 1.1000.


SNB Ends Era of Negative Interest Rates

Swiss benchmark rates are now out of negative territory for the first time since 2014 and the latest hike was the largest increase on record.

According to the SNB; “In doing so, it is countering the renewed rise in inflationary pressure and the spread of inflation to goods and services that have so far been less affected. It cannot be ruled out that further increases in the SNB policy rate will be necessary to ensure price stability over the medium term.”


The bank added that it is willing to be active in currency markets to provide appropriate monetary conditions.

SNB Chair Jordan reiterated that; "It cannot be ruled out that further increases in the SNB policy rate will be necessary to ensure price stability over the medium term."

As far as intervention is concerned Jordan added that The SNB is would purchase foreign currencies to rein in an "excessive appreciation" of the Swiss franc,

He added, however, "If the Swiss franc were to weaken, we would consider selling foreign currency."

The 2022 average inflation rate is now forecast at 3.0% from 2.8% in the June assessment with the 2023 estimate raised to 2.4% from 1.9%.

J.Safra Sarasin economist Karsten Junius, noted the forward guidance was less hawkish than other major banks; "The SNB says that 'it cannot be ruled out that further increases of the SNB policy rate will be necessary' while all other central banks more or less announce ongoing tightening.”

Rabobank chief currency strategist Jane Foley noted the major shift in global dynamics; "The sell-off in the Swiss franc in the wake of the SNB’s 75 bp rate hike this morning has highlighted the difficulties that central banks (other than the Fed) are having in stabilising their currencies."

According to ING global head of markets Chris Turner; “I think the outsized reaction in EUR/CHF was down to the view that SNB could do 100 basis points, following (Sweden's) Riksbank earlier this week.”

He added; “I think the market reaction, the EUR/CHF rally, is a bit overdone.

ING also expects the pair to weaken steadily over the medium term; “We think the SNB will continue to guide EUR/CHF lower at a rate of around 5-7% a year, in order to keep its real exchange rate stable.”

[waldron] 23/9/2022 07:42

1 EUR = 0.9606 CHF


The Euro to Swiss Franc exchange rate (EUR CHF) as of 23 Sep 2022 at 7:42 AM.

[waldron] 22/9/2022 20:26

1 EUR = 0.9618 CHF


The Euro to Swiss Franc exchange rate (EUR CHF) as of 22 Sep 2022 at 8:25 PM.

[waldron] 22/9/2022 14:22

1 EUR = 0.9647 CHF



The Euro to Swiss Franc exchange rate (EUR CHF) as of 22 Sep 2022 at 2:21 PM.

[maywillow] 22/9/2022 10:05

Switzerland exits negative interest rate era


The Swiss National Bank has raised interest rates into positive territory for the first time in seven years with a 0.75% hike on Thursday.

This content was published on September 22, 2022 - 09:35 September 22, 2022 - 09:35
swissinfo.ch

Switzerland’s central bank responded to the growing threat of inflation by moving the headline rate to 0.5%. This applies from September 23, 2022.

"In doing so, it is countering the renewed rise in inflationary pressure and the spread of inflation to goods and services that have so far been less affected," the SNB said in a press statementExternal link on Thursday. It added that further increases in the SNB policy rate can't be ruled out in order to ensure price stability over the medium term.

The SNB first imposed a negative rate of -0.75% in 2015 when it was forced to abandon a policy of defending the Swiss franc with a peg to the euro.

Negative rates have been a feature since then with the global economy going through a rocky period.

But the rising cost of goods and services has persuaded many central banks to recently reverse policy.

Swiss inflation hit 3.5% in Switzerland in August, compared to the same month in 2021, despite the SNB raising rates by half a percent in June.

Government economists have lowered their forecast for economic growth this year to 2% from a previous prediction of 2.6% in June.

The forecasters blamed the deteriorating situation on the rising cost of energy, which is expected to have a knock-on effect for many consumer goods.

[sarkasm] 22/9/2022 08:47

1 EUR = 0.9597 CHF



The Euro to Swiss Franc exchange rate (EUR CHF) as of 22 Sep 2022 at 8:46 AM.