Go Back   English Forum Switzerland > Help & tips > Finance/banking/taxation  
Reply
 
Thread Tools Display Modes
  #61  
Old 06.01.2009, 23:32
Deep Purple's Avatar
Forum Legend
 
Join Date: Dec 2007
Location: England
Posts: 5,267
Groaned at 16 Times in 15 Posts
Thanked 5,219 Times in 2,546 Posts
Deep Purple has a reputation beyond reputeDeep Purple has a reputation beyond reputeDeep Purple has a reputation beyond reputeDeep Purple has a reputation beyond reputeDeep Purple has a reputation beyond reputeDeep Purple has a reputation beyond repute
Re: Gbp/chf..wow 1.76

I think that the drop was all my fault. It fell from about 1.73 to 1.46 in three weeks while I was in Switzerland. Now that I am back in the UK it seems to be rising again. About 1.66 now.

Don't rely on me for any financial advice
Reply With Quote
  #62  
Old 07.01.2009, 09:14
Chester's Avatar
Member
 
Join Date: Feb 2007
Location: Vaud
Posts: 125
Groaned at 3 Times in 2 Posts
Thanked 16 Times in 9 Posts
Chester has earned some respectChester has earned some respect
Re: Gbp/chf..wow 1.76

Any traders out there able to give an explanation as to why it is rising?

Chester
Reply With Quote
  #63  
Old 07.01.2009, 09:34
Nev
 
Posts: n/a
Re: Gbp/chf..wow 1.76

Quote:
View Post
Any traders out there able to give an explanation as to why it is rising?

Chester
Traders are back after the Xmas holidays and now focussing on the negative outlook for the Eurozone and Swiss economies and what that inevitably means for further rate cuts there. Barring more surprises, all the bad news for the UK is already priced into sterling. It had lost a lot of ground vs the Euro and Swissie before Xmas so some rebound in the pound was always on the cards.
Reply With Quote
This user would like to thank for this useful post:
  #64  
Old 07.01.2009, 10:16
Chester's Avatar
Member
 
Join Date: Feb 2007
Location: Vaud
Posts: 125
Groaned at 3 Times in 2 Posts
Thanked 16 Times in 9 Posts
Chester has earned some respectChester has earned some respect
Re: Gbp/chf..wow 1.76

Thank you for that response - very clear.

Chester
Reply With Quote
  #65  
Old 07.01.2009, 10:24
Castro's Avatar
la mod
 
Join Date: Nov 2007
Location: Basel-Land of Smiles
Posts: 5,290
Groaned at 103 Times in 81 Posts
Thanked 15,212 Times in 4,904 Posts
Castro has a reputation beyond reputeCastro has a reputation beyond reputeCastro has a reputation beyond reputeCastro has a reputation beyond reputeCastro has a reputation beyond reputeCastro has a reputation beyond repute
Re: Gbp/chf..wow 1.76

I was reading that the prices of a lot of Japanese electronics in the UK will start to go up this month due to the strong yen versus a weaker pound. Nikon for example have already indicated that the RRP of some of their camera gear will be going up as of the 12th January.

Link

Last edited by Castro; 07.01.2009 at 10:29. Reason: Added link
Reply With Quote
  #66  
Old 07.01.2009, 10:26
glendamwm's Avatar
Forum Veteran
 
Join Date: Jan 2008
Location: muhen, Aarau
Posts: 527
Groaned at 5 Times in 3 Posts
Thanked 251 Times in 120 Posts
glendamwm has earned the respect of manyglendamwm has earned the respect of manyglendamwm has earned the respect of many
Re: Gbp/chf..wow 1.76

hi can anyone tell me, when transferring money back to your uk account, is it best to ask bank here to send as chf or to transfer to gbp first then send? thanks
Reply With Quote
  #67  
Old 07.01.2009, 10:29
Uncle GroOve's Avatar
Forum Veteran
 
Join Date: Feb 2008
Location: Mendrisio
Posts: 1,081
Groaned at 7 Times in 5 Posts
Thanked 727 Times in 380 Posts
Uncle GroOve has a reputation beyond reputeUncle GroOve has a reputation beyond reputeUncle GroOve has a reputation beyond reputeUncle GroOve has a reputation beyond repute
Re: Gbp/chf..wow 1.76

Quote:
View Post
I think that the drop was all my fault. It fell from about 1.73 to 1.46 in three weeks while I was in Switzerland. Now that I am back in the UK it seems to be rising again. About 1.66 now.

Don't rely on me for any financial advice
Dontcha worry buddy.
Next time just let us know in advance so we may profit from your Powers

Ciao

Paul
Reply With Quote
This user would like to thank Uncle GroOve for this useful post:
  #68  
Old 07.01.2009, 17:07
dannyt986's Avatar
Forum Veteran
 
Join Date: May 2005
Location: Wollerau, Schwyz
Posts: 1,820
Groaned at 26 Times in 19 Posts
Thanked 717 Times in 479 Posts
dannyt986 has a reputation beyond reputedannyt986 has a reputation beyond reputedannyt986 has a reputation beyond reputedannyt986 has a reputation beyond repute
Re: Gbp/chf..wow 1.76

Quote:
View Post
hi can anyone tell me, when transferring money back to your uk account, is it best to ask bank here to send as chf or to transfer to gbp first then send? thanks
I suspect getting the Swiss bank to convert and transfer GBP since UK banks are still pretty ante-deluvian when it comes to forex. But.. the only way to check is to get quotes from both on the day you want to do the transfer.

PS You might have been better of starting a new thread for this one.. it's a bit lost in the FX doom and gloom.
Reply With Quote
  #69  
Old 07.01.2009, 17:08
dannyt986's Avatar
Forum Veteran
 
Join Date: May 2005
Location: Wollerau, Schwyz
Posts: 1,820
Groaned at 26 Times in 19 Posts
Thanked 717 Times in 479 Posts
dannyt986 has a reputation beyond reputedannyt986 has a reputation beyond reputedannyt986 has a reputation beyond reputedannyt986 has a reputation beyond repute
Re: Gbp/chf..wow 1.76

Quote:
View Post
Traders are back after the Xmas holidays and now focussing on the negative outlook for the Eurozone and Swiss economies and what that inevitably means for further rate cuts there. Barring more surprises, all the bad news for the UK is already priced into sterling. It had lost a lot of ground vs the Euro and Swissie before Xmas so some rebound in the pound was always on the cards.
Bugger... I was hoping to switch some EUR as soon as it hit parity... clouds having silver linings and all that.

D
Reply With Quote
  #70  
Old 07.01.2009, 21:13
Tim's Avatar
Tim Tim is offline
Senior Member
 
Join Date: Oct 2006
Location: Herts UK
Posts: 417
Groaned at 0 Times in 0 Posts
Thanked 136 Times in 80 Posts
Tim is considered knowledgeableTim is considered knowledgeableTim is considered knowledgeable
Re: Gbp/chf..wow 1.76

Quote:
View Post
Any traders out there able to give an explanation as to why it is rising?

Chester
AS well as Nev's explanation, I understand that a lot of the selling of Sterling in the past few weeks was driven not so much by despair over the British economy compared to the Swiss and other Euro countries, but the need to close out positions prior to the close of the year... hence the rebound after New Year.
Reply With Quote
  #71  
Old 08.01.2009, 09:58
Nev
 
Posts: n/a
Re: Gbp/chf..wow 1.76

Part of the problem is the BofE's rate cuts are not having any positive stimulation affect on the UK economy so the jury is still not giving sterling the benefit of any doubt that the UK might pull itself out of this quicker than Europe in the long run.
Reply With Quote
  #72  
Old 08.01.2009, 16:14
Macchiato's Avatar
Forum Veteran
 
Join Date: Oct 2008
Location: Zurich
Posts: 732
Groaned at 22 Times in 15 Posts
Thanked 330 Times in 218 Posts
Macchiato is considered knowledgeableMacchiato is considered knowledgeableMacchiato is considered knowledgeable
Re: Gbp/chf..wow 1.76

Quote:
View Post
Any traders out there able to give an explanation as to why it is rising?

Chester
Record low rates in UK:
http://www.marketwatch.com/news/stor...303F2645C30%7D

Well, we have reached to a point that history seems irrelevant, so I believe short term predictions are just impossible and only wild guesses and can't be based on previous experiences!
Mid-long term forecasts are not easy either, though still little more chance of good guess!
There is bigmoney in the hands of traders, and suddenly one they they become in love with one currency, and days after that they hate it, so price goes volatile. You can not often find fundamental reason to explain short term up and downs. Beileve me or not, but what you hear about explanations of ups and downs are often nonsense,even aritten by best anaylsts. They just justify the things by saying some reasons after something happened but no way of predicting it.

Same as stock,check the titles of headlines, one day when goes down,the title is :Stoks are down as investors are concerned on gloomy ecnomiiy, and just 2 days after if goes up, the title is:Stocks rise as investors are less concerned,.... blabblas. How the fundamentals of economy can change in 2 days!

My Conclusion is, do your research and predict mid or long term and stick to it and prost!
Reply With Quote
  #73  
Old 08.01.2009, 16:39
Hi2All's Avatar
Junior Member
 
Join Date: Dec 2007
Location: Zurich
Posts: 60
Groaned at 1 Time in 1 Post
Thanked 48 Times in 28 Posts
Hi2All has made some interesting contributions
Re: Gbp/chf..wow 1.76

Quote:
View Post
hi can anyone tell me, when transferring money back to your uk account, is it best to ask bank here to send as chf or to transfer to gbp first then send? thanks
As a thumb rule, always remit funds in 'account' or 'local' currency. So in your case, remit in CHF & let your UK Bank convert it to GBP. The net rate that you recieve tends to be superior (relative to prevailing market, of course) when the bank 'recieving' the funds converts it rather than the bank 'remitting' (It may be the same bank, but in different locations).
Also in many cases, based on your relationship, you can always negotiate with 'recieving' banker for a better rate. Rest is mostly luck.
Another thumb rule for a retail customer is after the transaction is through, never look at the rate
Reply With Quote
  #74  
Old 22.01.2009, 12:26
Chester's Avatar
Member
 
Join Date: Feb 2007
Location: Vaud
Posts: 125
Groaned at 3 Times in 2 Posts
Thanked 16 Times in 9 Posts
Chester has earned some respectChester has earned some respect
Re: Gbp/chf..wow 1.76

Hi,

Anybody know where I can find historical data on GBP/CHF going back say 50 or 100 years. I recall someone mentioning the rate was once 22 CHF to the pound.

Thank you

Chester
Reply With Quote
  #75  
Old 22.01.2009, 12:37
cmjohno's Avatar
Member
 
Join Date: Sep 2008
Location: Zurich
Posts: 128
Groaned at 0 Times in 0 Posts
Thanked 114 Times in 50 Posts
cmjohno has an excellent reputationcmjohno has an excellent reputationcmjohno has an excellent reputationcmjohno has an excellent reputation
Re: Gbp/chf..wow 1.76

Quote:
View Post
Hi,

Anybody know where I can find historical data on GBP/CHF going back say 50 or 100 years. I recall someone mentioning the rate was once 22 CHF to the pound.

Thank you

Chester
Bloomberg has 40 years of annual data, but can't see much before 1971, when the rate was 10:1
Reply With Quote
This user would like to thank cmjohno for this useful post:
  #76  
Old 22.01.2009, 12:50
Chester's Avatar
Member
 
Join Date: Feb 2007
Location: Vaud
Posts: 125
Groaned at 3 Times in 2 Posts
Thanked 16 Times in 9 Posts
Chester has earned some respectChester has earned some respect
Re: Gbp/chf..wow 1.76

Do you have a link? I cannot find it on the site.

Thank you
Reply With Quote
  #77  
Old 22.01.2009, 12:52
PaddyG's Avatar
Forum Legend
 
Join Date: Aug 2007
Location: Pensier, Fribourg
Posts: 9,278
Groaned at 121 Times in 105 Posts
Thanked 16,857 Times in 5,912 Posts
PaddyG has a reputation beyond reputePaddyG has a reputation beyond reputePaddyG has a reputation beyond reputePaddyG has a reputation beyond reputePaddyG has a reputation beyond reputePaddyG has a reputation beyond repute
Re: Gbp/chf..wow 1.76

It's now sitting at CHF 1.60 to the . Anyone financial whizkids have an idea when it might start to improve?
Reply With Quote
  #78  
Old 22.01.2009, 13:10
cmjohno's Avatar
Member
 
Join Date: Sep 2008
Location: Zurich
Posts: 128
Groaned at 0 Times in 0 Posts
Thanked 114 Times in 50 Posts
cmjohno has an excellent reputationcmjohno has an excellent reputationcmjohno has an excellent reputationcmjohno has an excellent reputation
Re: Gbp/chf..wow 1.76

Have attempted to attach the chart.
Monthly data from 1971-90

Hope it is of some use
Attached Thumbnails
chf-foreign-exchange-highs-lows-gbpchf.gif  
Reply With Quote
The following 3 users would like to thank cmjohno for this useful post:
  #79  
Old 22.01.2009, 15:04
Uncle GroOve's Avatar
Forum Veteran
 
Join Date: Feb 2008
Location: Mendrisio
Posts: 1,081
Groaned at 7 Times in 5 Posts
Thanked 727 Times in 380 Posts
Uncle GroOve has a reputation beyond reputeUncle GroOve has a reputation beyond reputeUncle GroOve has a reputation beyond reputeUncle GroOve has a reputation beyond repute
Re: Gbp/chf..wow 1.76

Quote:
View Post
It's now sitting at CHF 1.60 to the . Anyone financial whizkids have an idea when it might start to improve?
As of today, the only way the GBP could recover *relatively* to the Sfr is that some kind of catastrophic process causes a mass exit from the swissie.
It probably would imply gold way above $1'000 / Eur 800 / Gbp 700 per ounce.

Given the current volatility levels it might happen, maybe for a day or so, and maybe even move the cross 2-3% in favour of the pound. Unfortunately for those who hold Gbp the swissie still rules longer term.
Anyway, a small short-term reaction could eventually reach 1.76, and anything higher than 1.86 would imply something seriously wrong with the Confoederatio Helvetica, IMHO.

Paul
Reply With Quote
  #80  
Old 22.01.2009, 15:10
Forum Legend
 
Join Date: Jan 2007
Location: Geneva
Posts: 5,531
Groaned at 123 Times in 108 Posts
Thanked 3,297 Times in 1,737 Posts
Shorrick Mk2 has a reputation beyond reputeShorrick Mk2 has a reputation beyond reputeShorrick Mk2 has a reputation beyond reputeShorrick Mk2 has a reputation beyond reputeShorrick Mk2 has a reputation beyond reputeShorrick Mk2 has a reputation beyond repute
Re: Gbp/chf..wow 1.76

Quote:
View Post
Anyone financial whizkids have an idea when it might start to improve?
Every time they appointed a bushy-eyebrowed type as Chancellor of the Exchequer the pound tanked. Current correlation stands at 100% for the statistically inclined.

That ought to answer your question...
Reply With Quote
Reply

Tags
currency exchange




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Declaring foreign income: which exchange rate? MountBerg Finance/banking/taxation 12 17.12.2014 05:52
Exchange to CHF Atomic Finance/banking/taxation 3 10.05.2010 10:41
Exchange rate CHF / EUR MatteoColombo Finance/banking/taxation 0 26.03.2010 22:02
what is more economical to exchange chf to pound delu Other/general 1 17.02.2010 15:47
Exchange rates to CHF TAE Finance/banking/taxation 10 23.09.2009 09:12


All times are GMT +2. The time now is 10:23.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2019, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0