CHF Exchange Rate
Ah, Switzerland: gold bullion, cuckoo clocks and hot cheese. What’s not to like?
What influences the USD/CHF exchange rate?
The USD/CHF currency pair is also known as the ‘Swissy’ or the ‘Dollar Swiss’, and both the USD and the CHF are considered safe haven currencies. (Currencies that retain, or even add, value during heavy market turbulence.) Because this pair has an inverse correlation with the USD/EUR, news that comes out of the eurozone tends to impact the USD/CHF exchange rate.1
The interest rate differential between the CHF and USD may also affect the exchange rate, and the Swiss National Bank continually re-evaluates whether or not the CHF should be pegged to the euro to maintain reasonable trade balances within Europe. That’s why it’s important to keep an eye on any upcoming announcements regarding monetary policy from both countries when evaluating the CHF/USD exchange rate. Learn more about what influences the value of the USD.
“Switzerland is a member of the European Free Trade Association, whose countries are significant markets for U.S. exporters and investors. The two countries have a long history of cooperation both bilaterally and within the World Trade Organization.” – US Department of State3
In 2015, the US was ranked 1st in GDP, while Switzerland ranked 19th.4 In 2014, the US was the 2nd largest exporter and the top importer in the world, while Switzerland was the 17th biggest exporter and 18th biggest importer.5,6
Top US exports to Switzerland include pharmaceutical products, medical and optic instruments, agricultural products, machinery, antiques and art, and gold. The US imports watches and clocks, diamonds and jewelry, agricultural products, medical and optic instruments, machinery, and pharmaceutical products from Switzerland.3
In 2016, World Economic Forum (WEF) ranked the Swiss economy the most competitive in the world for the 8th consecutive year.7
In 2014, gold accounted for 22% of Switzerland exports. Surprise, surprise. However, it also accounted for 26% of imports. Hmmm.
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 Indonesia, use OFX so you don’t get stung by high bank margins and fees. Register today to get access to our low rates and personalized 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
OFX fees not included in the conversion amounts shown above.
*Occasionally, third-party banks may deduct a fee from your transfer before paying your recipient. This fee may vary and OFX receives no portion of it.
CCY Worldwide Delivery Times
Some destinations for this currency include:
*Delivery times are indicative and measured in business days from the time your funds are received by OFX.