English Forum Switzerland

English Forum Switzerland (https://www.englishforum.ch/forum.php)
-   Finance/banking/taxation (https://www.englishforum.ch/finance-banking-taxation/)
-   -   Weak Swiss Franc (https://www.englishforum.ch/finance-banking-taxation/5671-weak-swiss-franc.html)

Polorise 11.01.2008 06:44

Re: Weak Swiss Franc
 
Quote:

Originally Posted by muze7 (Post 154140)
Back to the Franc for a moment, it is at a few months high against the Euro today, median is 1.63 or thereabouts. The CHF against the dollar is 1.10 which is also pretty low!

was also 2.14 against Sterling, which is cool-

Gav 11.01.2008 11:36

Re: Weak Swiss Franc
 
Quote:

Originally Posted by AbFab (Post 152856)
The simple sad fact is that we are now living in the good old days.

In a few short years we'll be looking back at with a wistful smile at the days when we had the time, freedom and money to make mind-numbingly posts to forums like this....

I think you're quite right there. We've just been through about a decade of amazing wealth and easy living.

So much stuff has happened around the same time frame:

Economic growth - often rapid growth.
Low, low interest rates and easy access to consumer credit.
..but with low inflation (thanks to China/India).
Ultra-cheap consumer goods (thanks to China/India).
Cheap food (no idea why).
Super cheap air travel.

The result is that everyone has been living pretty well and those of us lucky enough to have a 'decent' job have been able to have a lifestyle well beyond anything anyone could have dreamt of even 20 years ago.


Sadly, I think things are about to change on the economic front and pretty soon things are going to get a lot tougher all around. I'm glad I was able to put a bit of money away during the good years but I know lots of people out there who are now up to their necks in debt and will be high and dry should market conditions change.

It'll be interesting to see how Switzerland fares - its economy hasn't shown the exuberance of other Western countries during the boom so maybe it'll be in a better position to weather a downturn.

Gav 11.01.2008 11:37

Re: Weak Swiss Franc
 
Quote:

Originally Posted by Polorise (Post 154218)
was also 2.14 against Sterling, which is cool-

Woohoo!

:cheers: :wave:

muze7 18.01.2008 15:30

Re: Weak Swiss Franc
 
What would happen to the Swiss Franc if Europe goes into a recession but Switzerland still has (some) economic growth?)

By the way, CHF to Euro = 1 : 1.615, again lower than before.

Derek 18.01.2008 16:50

Re: Weak Swiss Franc
 
Having worked and lived in Switzerland since 1969(!) I've seen quite a few financial/economic ups and downs...(Lebanon, Afghanistan, etc.) and I've noticed that, like gold, the Swiss franc becomes a much sought after currency in times of economic/political woe......As you know, the Swiss franc has revalued against all major currencies over the last few years, (except against the Euro!) and continues to do so...even the has now become somewhat cheaper to buy at CHF 1.61. As for the $ and the .....they're at about CHF1.10 and CHF 2.158 respectively and, in my opinion, look as though they may slip further. perhaps it will soon be time to start buying dollars and pounds.....as for the , I personally am not convinced it will go much lower.
As for the future of Switzerland itself I am extremely positive. We have a very strong currency, a stable government, a hard working and industrious population which is in general well educated and well trained, the only Direct Democracy in the world, and last but not least we have a banking/insurance system of first class quality. In fact Switzerland is all about diligence, honesty, hard work and the "Secret Bancaire"! Don't fret, ride the storm and hold on to your hats...

Derek 18.01.2008 17:23

Re: Weak Swiss Franc
 
Talking about the past has prompted me to give you all a little arithmetical quiz: In 1968 your mother sends you out to do some shopping. Here's what you have to buy:
  1. 4 gallons of petrol for the car at 6/- per gallon (Imperial of course)
  2. 1/2 dozen eggs at 1/9d a dozen
  3. 2 oz butter at 2/6d a lb
  4. 3 pints of milk at 1/3d a pint
  5. 1 quart of cream at 8/6d a pint
  6. 3 yards of curtain material at 1 6s 4d a foot
  7. 2 guineas to pay her solicitor.
She gives you 20....how much change do you give her when you come back?
Best of luck.

gbn 18.01.2008 17:25

Re: Weak Swiss Franc
 
Quote:

Originally Posted by Derek (Post 158794)
Talking about the past has prompted me to give you all a little arithmetical quiz: In 1968 your mother sends you out to do some shopping. Here's what you have to buy:
  1. 4 gallons of petrol for the car at 6/- per gallon (Imperial of course)
  2. 1/2 dozen eggs at 1/9d a dozen
  3. 2 oz butter at 2/6d a lb
  4. 3 pints of milk at 1/3d a pint
  5. 1 quart of cream at 8/6d a pint
  6. 3 yards of curtain material at 1 6s 4d a foot
  7. 2 guineas to pay her solicitor.
She gives you 20....how much change do you give her when you come back?
Best of luck.

My mother married my father in 1968... ;-)

robban 18.01.2008 19:47

Re: Weak Swiss Franc
 
Quote:

Originally Posted by Derek (Post 158794)
She gives you 20....how much change do you give her when you come back?

I'll have a go, since I was born in the year of decimalisation. Assuming no tricks...

3 sovereigns 15 bob and three farthings or 3 15s 3/4d.

Do I win a lump of coal? :)

19.01.2008 17:54

Re: Weak Swiss Franc
 
Slightly off topic, but I just saw this on the news.

Zimbabwe introduces 10 million bank note

I am reminded of the time Zaire printed new an all new currency to combat inflation. Nobody knew why it wasn't working until they discovered a plane stuffed full of money. It turned out that the printer (in Egypt if I remember correctly) had done a second print run!

post from holland 22.01.2008 14:58

Re: Weak Swiss Franc
 
sssssssssssssss

Gav 22.01.2008 15:13

Re: Weak Swiss Franc
 
The US Federal Reserve made an unprecedented rate cut of 0.75% this morning .... a siign of panic methinks. In such times, cash always flocks to the Swiss Franc so I wouldn't be too surprised to see it strengthening.

flow23 22.01.2008 15:28

Re: Weak Swiss Franc
 
oh happy days! if thats the case...i love world economy crashs!
what can i do as/to support? ;)

post from holland 22.01.2008 15:39

Re: Weak Swiss Franc
 
http://charts.quintrics.nl/charts/4602854.png


sssssssssssssssssssssssssssssssssssssssssss

muze7 22.01.2008 19:50

Re: Weak Swiss Franc
 
oops double post

muze7 22.01.2008 19:51

Re: Weak Swiss Franc
 
I think the bottom of the Euro against CHF has not yet been reached. Either we reach 1.58 or so in the next 1-2 weeks and things rebound from there, or we have a longer term strengthening of the Franc and 1.55 is reachable this year.

Of course I do not have a crystal ball, but I thinking converting all your francs now could be too early. Or you play it safe and split into several batches :).

Post from Holland, you can also go short or long on the Euro vs CHF, you buy these through ABN Amro for example (and UBS etc. I assume).

post from holland 23.01.2008 11:24

Re: Weak Swiss Franc
 
hhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh
http://charts.quintrics.nl/charts/4629863.png

Dodger 23.01.2008 11:31

Re: Weak Swiss Franc
 
Quote:

Originally Posted by muze7 (Post 160832)
I think the bottom of the Euro against CHF has not yet been reached. Either we reach 1.58 or so in the next 1-2 weeks and things rebound from there, or we have a longer term strengthening of the Franc and 1.55 is reachable this year.

Here's hoping. For me the exchange rate is incredibly important since my income is in CHF and almost all of my expenses are in EUR. So a weaker Euro is a very good thing.

The Aussie dollar has also taken a hammering against the Franc recently. Now might the time to start repaying my HECS (uni debt).

Polorise 23.01.2008 11:32

Re: Weak Swiss Franc
 
Dollar hit 1.09 chf this morning, which prompted me to have a look at what the Fed interest cut has done to help the Dollar on theFX market .....

not a lot

:msnshock:

rhythmical remedy 23.01.2008 12:19

Re: Weak Swiss Franc
 
Quote:

Originally Posted by Polorise (Post 161138)
Dollar hit 1.09 chf this morning,

:eek: Wow!

Gav 27.02.2008 23:18

Re: Weak Swiss Franc
 
Holy moley - could we be heading for 2CHF=1GBP?


Live rates at 2008.02.27 21:57:30 UTC 1.00 CHF

=

0.474691 GBP

Six months ago:

Live rates at 2007.08.15 09:39:33 UTC 1.00 CHF

=

0.414355 GBP


So my SFr cash savings have appreciated (in sterling terms) by almost 15% in six months.

Woohoo! :D

Except, most of it is in UBS.

D'oh! :eek:


All times are GMT +2. The time now is 02:24.

Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2021, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0