Go Back   English Forum Switzerland > Help & tips > Finance/banking/taxation  
Reply
 
Thread Tools Display Modes
  #61  
Old 11.01.2008, 06:44
Polorise's Avatar
Forum Legend
 
Join Date: Mar 2007
Location: about there
Posts: 2,738
Groaned at 25 Times in 25 Posts
Thanked 2,325 Times in 1,259 Posts
Polorise has a reputation beyond reputePolorise has a reputation beyond reputePolorise has a reputation beyond reputePolorise has a reputation beyond reputePolorise has a reputation beyond repute
Re: Weak Swiss Franc

Quote:
View Post
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-
Reply With Quote
  #62  
Old 11.01.2008, 11:36
Gav's Avatar
Gav Gav is offline
Forum Veteran
 
Join Date: May 2005
Location: Ireland
Posts: 966
Groaned at 15 Times in 11 Posts
Thanked 468 Times in 187 Posts
Gav has a reputation beyond reputeGav has a reputation beyond reputeGav has a reputation beyond reputeGav has a reputation beyond repute
Re: Weak Swiss Franc

Quote:
View Post
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.
Reply With Quote
  #63  
Old 11.01.2008, 11:37
Gav's Avatar
Gav Gav is offline
Forum Veteran
 
Join Date: May 2005
Location: Ireland
Posts: 966
Groaned at 15 Times in 11 Posts
Thanked 468 Times in 187 Posts
Gav has a reputation beyond reputeGav has a reputation beyond reputeGav has a reputation beyond reputeGav has a reputation beyond repute
Re: Weak Swiss Franc

Quote:
View Post
was also 2.14 against Sterling, which is cool-
Woohoo!

Reply With Quote
  #64  
Old 18.01.2008, 15:30
muze7's Avatar
Forum Veteran
 
Join Date: May 2006
Location: Uk now after Neuchatel
Posts: 1,242
Groaned at 3 Times in 3 Posts
Thanked 158 Times in 102 Posts
muze7 is considered knowledgeablemuze7 is considered knowledgeablemuze7 is considered knowledgeable
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.
Reply With Quote
  #65  
Old 18.01.2008, 16:50
Newbie 1st class
 
Join Date: Jan 2008
Location: Geneva
Posts: 13
Groaned at 0 Times in 0 Posts
Thanked 2 Times in 2 Posts
Derek has no particular reputation at present
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...
Reply With Quote
  #66  
Old 18.01.2008, 17:23
Newbie 1st class
 
Join Date: Jan 2008
Location: Geneva
Posts: 13
Groaned at 0 Times in 0 Posts
Thanked 2 Times in 2 Posts
Derek has no particular reputation at present
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.
__________________
Derek
Reply With Quote
This user would like to thank Derek for this useful post:
  #67  
Old 18.01.2008, 17:25
gbn's Avatar
gbn gbn is offline
Forum Legend
 
Join Date: Dec 2005
Location: Zuri Oberland
Posts: 2,747
Groaned at 104 Times in 71 Posts
Thanked 2,398 Times in 1,124 Posts
gbn has a reputation beyond reputegbn has a reputation beyond reputegbn has a reputation beyond reputegbn has a reputation beyond reputegbn has a reputation beyond repute
Re: Weak Swiss Franc

Quote:
View Post
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... ;-)
Reply With Quote
  #68  
Old 18.01.2008, 19:47
robban's Avatar
Senior Member
 
Join Date: Sep 2007
Location: Lausanne
Posts: 338
Groaned at 0 Times in 0 Posts
Thanked 173 Times in 109 Posts
robban has earned the respect of manyrobban has earned the respect of manyrobban has earned the respect of many
Re: Weak Swiss Franc

Quote:
View Post
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?
Reply With Quote
  #69  
Old 19.01.2008, 17:54
JVC
 
Posts: n/a
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!
Reply With Quote
  #70  
Old 22.01.2008, 14:58
Newbie 1st class
 
Join Date: Jun 2007
Location: cham/luzern
Posts: 17
Groaned at 0 Times in 0 Posts
Thanked 0 Times in 0 Posts
post from holland has no particular reputation at present
Re: Weak Swiss Franc

sssssssssssssss

Last edited by post from holland; 29.01.2008 at 14:34.
Reply With Quote
  #71  
Old 22.01.2008, 15:13
Gav's Avatar
Gav Gav is offline
Forum Veteran
 
Join Date: May 2005
Location: Ireland
Posts: 966
Groaned at 15 Times in 11 Posts
Thanked 468 Times in 187 Posts
Gav has a reputation beyond reputeGav has a reputation beyond reputeGav has a reputation beyond reputeGav has a reputation beyond repute
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.
Reply With Quote
  #72  
Old 22.01.2008, 15:28
flow23's Avatar
Forum Legend
 
Join Date: Mar 2007
Location: Zürich
Posts: 3,029
Groaned at 91 Times in 69 Posts
Thanked 1,777 Times in 963 Posts
flow23 has a reputation beyond reputeflow23 has a reputation beyond reputeflow23 has a reputation beyond reputeflow23 has a reputation beyond reputeflow23 has a reputation beyond reputeflow23 has a reputation beyond repute
Re: Weak Swiss Franc

oh happy days! if thats the case...i love world economy crashs!
what can i do as/to support?
Reply With Quote
  #73  
Old 22.01.2008, 15:39
Newbie 1st class
 
Join Date: Jun 2007
Location: cham/luzern
Posts: 17
Groaned at 0 Times in 0 Posts
Thanked 0 Times in 0 Posts
post from holland has no particular reputation at present
Re: Weak Swiss Franc




sssssssssssssssssssssssssssssssssssssssssss

Last edited by post from holland; 29.01.2008 at 14:34.
Reply With Quote
  #74  
Old 22.01.2008, 19:50
muze7's Avatar
Forum Veteran
 
Join Date: May 2006
Location: Uk now after Neuchatel
Posts: 1,242
Groaned at 3 Times in 3 Posts
Thanked 158 Times in 102 Posts
muze7 is considered knowledgeablemuze7 is considered knowledgeablemuze7 is considered knowledgeable
Re: Weak Swiss Franc

oops double post
Reply With Quote
  #75  
Old 22.01.2008, 19:51
muze7's Avatar
Forum Veteran
 
Join Date: May 2006
Location: Uk now after Neuchatel
Posts: 1,242
Groaned at 3 Times in 3 Posts
Thanked 158 Times in 102 Posts
muze7 is considered knowledgeablemuze7 is considered knowledgeablemuze7 is considered knowledgeable
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).
Reply With Quote
  #76  
Old 23.01.2008, 11:24
Newbie 1st class
 
Join Date: Jun 2007
Location: cham/luzern
Posts: 17
Groaned at 0 Times in 0 Posts
Thanked 0 Times in 0 Posts
post from holland has no particular reputation at present
Re: Weak Swiss Franc

hhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh

Last edited by post from holland; 29.01.2008 at 14:36.
Reply With Quote
  #77  
Old 23.01.2008, 11:31
Dodger's Avatar
Forum Veteran
 
Join Date: Jul 2007
Location: Lörrach/DE
Posts: 648
Groaned at 6 Times in 6 Posts
Thanked 568 Times in 294 Posts
Dodger has an excellent reputationDodger has an excellent reputationDodger has an excellent reputationDodger has an excellent reputation
Re: Weak Swiss Franc

Quote:
View Post
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).
Reply With Quote
  #78  
Old 23.01.2008, 11:32
Polorise's Avatar
Forum Legend
 
Join Date: Mar 2007
Location: about there
Posts: 2,738
Groaned at 25 Times in 25 Posts
Thanked 2,325 Times in 1,259 Posts
Polorise has a reputation beyond reputePolorise has a reputation beyond reputePolorise has a reputation beyond reputePolorise has a reputation beyond reputePolorise has a reputation beyond repute
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

Reply With Quote
  #79  
Old 23.01.2008, 12:19
rhythmical remedy's Avatar
Forum Veteran
 
Join Date: Nov 2007
Location: Zürcher
Posts: 513
Groaned at 63 Times in 41 Posts
Thanked 201 Times in 130 Posts
rhythmical remedy has earned some respectrhythmical remedy has earned some respect
Re: Weak Swiss Franc

Quote:
View Post
Dollar hit 1.09 chf this morning,
Wow!
Reply With Quote
  #80  
Old 27.02.2008, 23:18
Gav's Avatar
Gav Gav is offline
Forum Veteran
 
Join Date: May 2005
Location: Ireland
Posts: 966
Groaned at 15 Times in 11 Posts
Thanked 468 Times in 187 Posts
Gav has a reputation beyond reputeGav has a reputation beyond reputeGav has a reputation beyond reputeGav has a reputation beyond repute
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!

Except, most of it is in UBS.

D'oh!
Reply With Quote
This user would like to thank Gav for this useful post:
Reply




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
Travel Passes for Visitors ChrisW Transportation/driving 43 13.08.2017 23:56
Would you like to have Swiss German as an official language in place of High German? alessione Language corner 104 16.02.2015 15:46
Self Employment issue telandy Permits/visas/government 10 01.03.2012 12:21
[Learn] Swiss German or High German mark Language corner 134 01.06.2010 15:21
"Bad" neighbours HAT Complaints corner 108 17.05.2009 22:36


All times are GMT +2. The time now is 19:50.


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