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Back in 2011, it was worth more. But the peg was actually at 1 euro = 1.20 francs,[0] but in mid-January it went to 1 euro = 0.81 francs in one day, that's 30%
by Svip 11y ago
Back in 2011, it was worth more. But the peg was actually at 1 euro = 1.20 francs,[0] but in mid-January it went to 1 euro = 0.81 francs in one day, that's 30%. Meaning that buying things with euros in Switzerland became 30% more expensive all of the sudden.
[0] http://www.bbc.com/news/business-30829917 http://www.bbc.com/news/business-30829917
- atmosx 11y agoThat was a very specific choice made by the national bank to protect their national coin and goods from the Euro. It was a very smart nd contested political / financial move that no other country in europe would have the balls to put up with.