Swiss Franc


John Lovda
 

Well, I was hoping to take another photo trip to Switzerland this spring but Yahoo News reported that the government is floating the Franc against the Euro and they expect the France to really rise. Time to go back and look at past images.


John Lovda


glenn allen
 

Overnight it's dropped from 1.52 to 1.29.I really hope that's a typing mistake made by the exchange agency I use.
[Non-text portions and all other rubbish of this message have been removed]


bs177@...
 

---In SwissRail@yahoogroups.com, <jlovda@...> wrote :

Well, I was hoping to take another photo trip to Switzerland this spring but Yahoo News reported that the government is floating the Franc against the Euro and they expect the France to really rise. Time to go back and look at past images.


I fear that this is not going to help the Swiss tourist industry, the railways or manufacturers, but if the Swiss Franc was being artificially held down in value, it would have caused further problems in the long term. I think a lot of us will be thinking twice about visiting CH in the coming year.


Bruce


OL.Guerbetal
 

Am 15.01.2015 um 14:26 schrieb jlovda@yahoo.com [SwissRail]:
Well, I was hoping to take another photo trip to Switzerland this
spring but Yahoo News reported that the government is floating the
Franc against the Euro and they expect the France to really rise.
Sorry to correct you, but the decision was made by the Swiss National Bank (SNB), not the government. There had been rumours that the SNB wouldn't be able to keep the 1.20 (CHF/EUR) limit very long but then the decision came very quickly and surprisingly.

Markus, G�rbetal


DAVID STEVENSON
 

A conversation i had today with some fellow enthusiasts about this was brought into focus by this: "As to tourist numbers, when I spoke to the people whom I knew on the Swiss Tourism stand at the World Travel Market in Nov, they noted that less than 20% of incoming tourists now came from Europe outside Switzerland. Overall the Indians were the biggest group, followed by the Chinese, and then the Japanese, followed by South Americans. Apparently tourists from the UK and the US were now only about 2% from each. The largest number of Europeans were the French.” The Swiss in Switzerland aren’t bothered whether we go or not, they have new markets, far more fickle markets but huge. We are a bit of an irrelevance nowadays. I’ve not been for five years, not because I don't want to but it offers such poor value compared to Germany, Austria and Italy even that I’ve taken my custom elsewhere. I suspect I’m not the only one, but the reality is the Swiss in Switzerland aren’t bothered. DAVID S


Chris Wood
 

Glenn Allen wrote:

Overnight it's dropped from 1.52 to 1.29.I really hope that's a typing mistake made by the exchange
agency I use.
I'm afraid not. According to xe.com's historical rates table, the Swiss Franc has gone from being worth about 64p to about 78p overnight.

That means everything in Switzerland now appears (observed from the outside) to be 21% more expensive. Ouch, that is going to hurt.


glenn allen
 

I use change-link.com in London, that was the rate I was quoting, still showing 1.2939 as I type.It has put about £100 on the cost of my hotel for February and the 330CHF for the Monats Buega is going to be extra £££ when I buy it.The rate does seem to have settled around the 1.30 mark, I remember a few years ago when it was even worse. Hopefully it'll stay at this rate for a while. Must be hurting the tourist trade and the export market, but how much longer could the bank have supported it? must have been costing them a fair bit.


John Lovda
 

Being an American, these rumours are not part of daily life. Even changing money is a difficult process. Unlike Europe, there are no Change businesses on every corner and your local bank branch would have to "order" your foreign notes from the main office with a day or so delay. I apologize for venting my frustration here but it really doesn't matter if Mickey Mouse changed the rate. I won't be going back for quite awhile now and I'm depressed.

Also, found on Yahoo.


Peter Spuhler, chief executive of Stadler Rail, which exports half of its trains abroad, described the sudden announcement as "shock therapy" for industry.
"The only thing you can do in the short term is relocate part of the production process abroad. Otherwise you have no chance and you don't get the orders," he told Swiss television.


OL.Guerbetal
 

Am 16.01.2015 um 19:23 schrieb glenn allen:
it must have been costing them a fair bit.
In an article of 7th January it was said that the foreign currency reserves of SNB had doubled within three years. And the newspaper quoted several economists saying that SNB couldn't and shouldn't hold the 1.20 limit.

<http://www.tagesanzeiger.ch/wirtschaft/unternehmen-und-konjunktur/Devisenreserven-der-SNB-auf-fast-500-Milliarden-angestiegen/story/24219971>

Markus, Gürbetal


gordonwis
 

Stayed in CH summer 2010 when the rate was bad. Just had to accept it. Also I self cater on main holidays with my better half. Plus anyone who has recently paid the prices retail outlets at British stations and motorway service areas charge won't notice a problem ...


glenn allen
 

Marcus wrote :In an article of 7th January it was said that the foreign currency reserves of SNB had doubled within three years.


If they have any bundles of old English notes lying around I can give them a good home, help them out of their storage problems.


Bill Bolton
 

On Thu, 15 Jan 2015 22:41:02 +0000, David wrote:

they noted that less than 20% of incoming tourists now came from
Europe outside Switzerland.
FWIW, even at the new exchange rate, it is still less expensive
overall for me to visit Switzerland than it is to visit the UK.

Also, the AUD to EUR rate improved after the CHF announcement, so its
also less expensive for me to visit the Euro zone countries.

I really can't see this CHF change having the sort of dire impact on
Swiss tourism that some here are predicting!

Cheers,

Bill

Bill Bolton
Sydney, Australia


Heléna Moretti
 

DAVID STEVENSON wrote:

"I’ve not been for five years, not because I don't want to but it offers such poor value compared to Germany, Austria and Italy even that I’ve taken my custom elsewhere. I suspect I’m not the only one, but the reality is the Swiss in Switzerland aren’t bothered. DAVID S"

It is the impression I get too, I now travel three times as often to Italy, a 20% hike in prices is not going to help either. I listen to Swiss nationals and their greater concern is the loss of exports from watches, cheese and chocolate.

Helena

Reply via web post • Reply to sender • Reply to group • Start a New Topic •

[Non-text portions of this message have been removed]


mountainweb@btinternet.com
 

The reality is that The Tourism industry is a valuable export too. The country earns large amounts from tourists and this will also suffer. Hoteliers in particular will have serious concerns about the value of the Swiss Franc.

Lou Johnson

www.world-railways.co.uk


Krist van Besien
 

On Sat, Jan 17, 2015 at 11:10 AM, Lou Johnson
mountainweb@btinternet.com [SwissRail] <SwissRail@yahoogroups.com>
wrote:
The reality is that The Tourism industry is a valuable export too. The country earns large amounts from tourists and this will also suffer. Hoteliers in particular will have serious concerns about the value of the Swiss Franc.
Tourism is indeed also export. However Switzerland had a trade surplus
of 16% of GDP last year. This will now probably become less. This is a
shock, but not a disaster. Not for the Swiss anyway. For the average
Swiss consumer this might be actually rather good.
For those who had shorted Swiss Francs that's another story...

Krist

--
krist.vanbesien@gmail.com
krist@vanbesien.org
Bern, Switzerland


Don Newing
 

DAVID STEVENSON wrote:
<"I’ve not been for five years, not because I don't want to but it offers such poor <value compared to Germany, Austria and Italy even that I’ve taken my custom <elsewhere. I suspect I’m not the only one, but the reality is the Swiss in <Switzerland aren’t bothered.


I have a trip to Switzerland in March (tickets and accommodation all paid for before the rate hike), but in future, with some regret, I shall be concentrating of Germany and Austria, where there's plenty to keep me amused.


Don Newing


Hayward Godwin
 

The exchange rate was discussed back in 2011 when the rate went down to 1.278.
No member of this group said that they would consider returning in 2012 when it got back up to 1.538.
In July 1975, £1.00 bought 5.49 CHF making 1 CHF worth 0.18p.
How many of us have enjoyed the vast wealth that Switzerland has to offer since then?
Today the Swiss Franc is worth 0.76p but for me, it's the Service that counts.
Merci vilmal.


yatton123
 

ic2000trains wrote
''The exchange rate was discussed back in 2011 when the rate went down to 1.278.
No member of this group said that they would consider returning in 2012 when it got back up to 1.538. ''
Back then I gave examples of money saving tips I had found which enabled
and still enables me to make short monthly trips to Switzerland.(I'm retired with state and works pension only, not a private income !!). I'm off on Friday to Basel, accommodation will be under CHF 300 for a week's stay. 90% of travel will be with the CHF26 TNW weekly ticket.
I, for one, will continue to visit Switzerland unless the £/CHF falls a long way below the current rate.


markyboyellis@...
 

It is unfortunate for all of us that Switzerland no longer feels able to "prop up" foreign exchange rates but understandable from their point of view.. We have to hope that rates will recover again in the not too distant future although they will never reach the values they were when I first visited in 2003.
Although I won't be visiting CH this year I hope that I will in 2016.
There is always the option of staying around the Swiss border, we visited Konstanz last year and spent half our time in Switzerland, the other half in Germany and Austria. That way the impact of the CHF exchange rate is reduced. Hotel prices in Konstanz were very reasonable and half the currency we used was obviously Euro's. Also the Bodensee pass is good value and will take you to some interesting places in Switzerland. Public transport around the lake is good so it is easy to get around.
I'm sure there are other places around the border ( Basel being a prime example) where you can stay in Germany/France/Italy and save on accommodation costs.


Mark Ellis


Fionnbarr Kennedy
 

And it would happen 2 weeks before my next planned visit :-( Think its a plot....

Don't suppose there will be a price reduction on the Swiss Pass to help offset? Wishful thinking I'm sure...

Fionnbarr