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Swiss Franc

  • 29-12-2011 3:38am
    #1
    shangri la
    Registered Users, Registered Users 2 Posts: 952 ✭✭✭


    What are the reasons the Swiss Franc is seen as a good investment at the minute?

    Why did the Swiss government recently decide to devalue it by 9% and what are the chances they may engage in further devaluations in the next 12 months?


Comments

  • #2
    shangri la
    Registered Users, Registered Users 2 Posts: 952 ✭✭✭shangri la


    Would depositing in a Swiss bank account be the best way to gain exposure?


  • #3
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,606 Mod ✭✭✭✭Jim2007


    shangri la wrote: »
    What are the reasons the Swiss Franc is seen as a good investment at the minute?

    Why did the Swiss government recently decide to devalue it by 9% and what are the chances they may engage in further devaluations in the next 12 months?

    Because people who say this have not got a clue! Yes it is very likely that the SNB will realign the Euro peg in the coming months if the economy does not pick up in the mean time, they have already indicated as much.

    Furthermore, there is no government guarantee on deposits and the bank operated scheme covers about 30K at best.
    shangri la wrote: »
    Would depositing in a Swiss bank account be the best way to gain exposure?

    Unless you are a Swiss resident or are in a position to become a private banking client it is not possible to legally open an account in Switzerland. There are several grey schemes be advertised at present that claim to get around the law, but be warned that the Swiss authorities will have very little time for people who lose money in these situations.


  • #4
    OfflerCrocGod
    Registered Users, Registered Users 2 Posts: 6,334 ✭✭✭OfflerCrocGod


    As Jim says CHF may have its peg changed again so I'd stay well clear.


  • #5
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,606 Mod ✭✭✭✭Jim2007


    Here is a good summary of the economic situation in Switzerland and the pressure on the SNB to increase the peg to the Euro


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