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Too strong a currency

9/9/2011

It’s good to have a strong currency with you when you travel; you get more for your money than at home. But in extreme cases a currency can grow too strong, like at present in the case of the Swiss Franc, CHF.

It’s a highly esteemed currency in which investors seek haven in times of turbulence. On one hand this has created high demand and a shortage of CHF, which has reached historically high levels, around SEK 8.50. Other the other, it has scared tourists into avoiding Switzerland and made Swiss products more expensive. “The massive overvaluation of the Swiss Franc poses a threat to the country’s economic development”, reads a statement from the central bank, SNB, which is working with different methods to hold down the exchange rate.

Talking of exchange rates, but this time the other way: in 1959 a Swiss Franc cost SEK 1.20.


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