What influences the AUD/CHF exchange rate?
The AUD/CHF exchange rate may be influenced by the CHF’s status as a safe haven currency. However, the USD and JPY have been preferred as safe havens in recent years probably due to Swiss National Bank intervention in pricing against the euro. Nonetheless, the Swiss franc is still seen as a safe choice for traders when economic conditions around the world are turbulent and that privileged status may influence AUD/CHF rates.
Because gold is a major export from Australia to Switzerland, the AUD/CHF exchange rate could be influenced by the price of gold. As a commodity currency, the Aussie dollar is vulnerable to commodity booms and busts, which may also have a subsequent impact on CHF/AUD exchange rates. Learn more about the factors that affects the value of the Aussie dollar.
“Switzerland is Australia’s tenth-largest source of foreign investment and tenth-largest investment destination.” – Australian Government Dept. of Foreign Affairs & Trade2
In 2015, Australia was ranked 12th in GDP, while Switzerland ranked 19th.3 In 2014, Australia was the 21st largest exporter and importer in the world, while Switzerland was the 17th biggest exporter and 18th biggest importer.4,5
Top Australian exports to Switzerland in 2015 included gold, silver, platinum, and meats, while medicaments, clocks and watches, and pharmaceutical products were among the top imports from Switzerland.7
Whether you’re planning on getting married in Switzerland or sending money back home to friends and family, OFX can help you save on your international money transfers. If you need to make a payment to Switzerland, use OFX so you don’t get stung by high bank margins and fees. Register today to get access to our low rates and personalised service.
Currency Name: Swiss Franc
Currency Code: CHF
Currency Symbol: Fr
Central Bank: Swiss National Bank
Countries Used In: Switzerland, Campione d'Italia, Liechtenstein
Major Unit: One Franc
Minor Unit: One Rappen
Note Denominations: 10, 20, 50, 100, 200, 1,000 francs
Coin Denominations: 5, 10, 20 rappen. ½, 1, 2, 5 francs
CHF to AUD exchange rate analysis. Check out our daily market analysis to learn the factors influencing the CHF to AUD exchange rate today.