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It's the other way around: EUR/CHF=1.09 means 1EUR=1.09CHF. > [2011 to 2015] the Euro was exchanging [at] CHF1.20. [Then] the exchange rate stabilised to betwe
by 1wd 9y ago
It's the other way around: EUR/CHF=1.09 means 1EUR=1.09CHF.
> [2011 to 2015] the Euro was exchanging [at] CHF1.20. [Then] the exchange rate stabilised to between CHF1.05 and CHF1.08 to the Euro, due in large part to further intervention from the SNB which discreetly set about buying up foreign currency to ensure the franc did [rise to] new heights
https://www.swissinfo.ch/eng/business/money--money--money_swiss-economy-slowly-recovering-from-exchange-rate-shock/42799542 https://www.swissinfo.ch/eng/business/money--money--money_sw...
- siscia 9y agoYeah sorry... Still my point holds...
- ponyfleisch 9y ago> Yeah sorry... Still my point holds... not really, no. the opposite, actually. while not an all time high, it is pretty high in the 10 year context and it did affect export industries.
- siscia 9y agoWhat industries where effected the most?
- 1wd 9y agoMechanical and electrical engineering industries were seriously affected, according to Swissmem: https://www.swissmem.ch/en/news-medien/news/mem-industrie-die-frankenstaerke-hinterlaesst-deutliche-spuren.html https://www.swissmem.ch/en/news-medien/news/mem-industrie-di... According to Credit Suisse, "nearly all sectors of industry are affected", especially the Mechanical Engineering industry, but also Metals and Food Industries, Hotels, Catering and Retailing: https://www.credit-suisse.com/ch/en/articles/articles/news-and-expertise/2015/03/en/strong-swiss-franc-hitting-industry-commerce-and-hotels.html https://www.credit-suisse.com/ch/en/articles/articles/news-a...
- jevgeni 9y agoThere's a slight error there. SNB was buying foreign currency to lower the CHF exchange rate in an effort to protect the Swiss export industry.
- 1wd 9y agoYes, sorry, I meant to write [not rise to].