The franc is continuing to strengthen against the euro.
It’s good news for frontaliers and cross border shoppers – but it’s painful for exporters.
Yesterday, the interbank rate had the euro at 0.927 against the franc. In a practical sense, changing CHF 4,000 at Migros you get you EUR 4,275.
The head of Change Migros, Alexandre Allantaz, told the Tribune de Genève that uncertainty in the Middle East, specifically Syria, is driving investors in to the safe haven of the Swiss Franc. He says that’s a more important factor than the political chaos in France.
But it’s not good news for all frontaliers. Those who are not taxed at source in Geneva will have their income adjusted in euros so their tax will rise.
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