Cross-border consumption – Franc-euro: return to near parity

– Franc-euro: return to near parity

The Swiss currency is gaining ground against the single European currency. Good news for Swiss travelers in Europe and for cross-border workers.

Published: 25.06.2022, 10:48

The current period is one of the best since the beginning of this year to change francs against euros.

LUCIEN FORTUNATI

The timing is perfect. At a time of the first departures on vacation in Europe and at a time when European cross-border workers are converting their wages earned in francs in Switzerland into euros, the Swiss currency is strengthening against the single European currency.

Friday June 24, in the middle of the day, the euro and the franc were at parity; 1 euro equals 1.00 francs at the interbank rate (rate in effect on the markets, slightly different from that offered to individuals in exchange offices).

Concretely, in a foreign exchange establishment which practiced at that time a “public” rate of 1.02 francs (commission included) for 1 euro, an individual who changed 1000 francs received 980 euros.

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