ThoseFranc fort
It’s time to change francs in euros: what you need to know
Small exchange offices in Swiss cities sometimes offer very interesting exchange lessons. The low level of the Euro (and the dollar) pushes to acquire it today.
Before going on vacation, the small exchange offices that are found for example near the stations in Geneva or Lausanne seem particularly attractive in terms of exchange lessons.
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- Exchange offices near stations provide more advantageous rates than traditional banks.
- Avoid large cuts that are difficult to exchange abroad.
- BNS could intervene to prevent excessive strengthening of the Swiss franc.
- Card payments abroad must be made in local currency.
The franc is very strong. Swiss holidaymakers can salivate. The euro flirts with the 0.93 against the Swiss currency, while the dollar fell by more than 10% since January. The latter is exchanged close to its historic floor of 0.79 against the franc. How to enjoy it and find the best exchange rate before a trip to Greece or New York? Tips and pipes.
Where to change your cash
“If you go at the end of August on vacation, you buy half of the currencies you need today, and the other half before your departure,” recommends Jean-Marc Sabet, founder of the B-Sharpe exchange site. A strategy intended to guard against a surprise decline in the franc.
It may be interesting to go through the small exchange offices that are found for example near the stations in Geneva or Lausanne. The latter apply courses often more advantageous than traditional banks. We tested for you. This Wednesday, you could buy 1000 euros by paying 940 francs to Cornavin (GE), while a large bank invoiced 966 francs. Attractive, therefore.
Cut -off
It is important to take small cuts, 10 and 20 euros as far as possible. One element to have in mind, because large tickets, of 50 euros for example, are sometimes difficult to change abroad.
Today, the franc remains solid. “I think that the euro will stay under pressure and that the dollar will continue to decrease, due to international political and geopolitical tensions which benefit the Swiss motto, value refuge par excellence,” adds Jean-Marc Sabet.
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In France, the political situation is uncertain with the motion of censorship threatening the Bayrou government. In the United States, the Trump administration clearly wants to weaken the dollar to strengthen the competitiveness of American companies. “One way to reindustrialize the country,” adds Daniel Varela, director of investments at Piguet Galland Bank.
Wait for the Euro
Therefore, some travelers will prefer to wait before changing their francs. The good level of purchase on the euro? “The latter can take refuge Towards the 0.92 floor“Consizes Daniel Varela. And maybe very quickly. President Trump could put pressure on his business partners to force their hand to find an agreement on customs duties before the deadline of July 9, “which can still raise the franc”.
Change everything for July
For departures in July, some experts even recommend that they do not wait. “You have to change the current vacation cash, because it will not go much lower,” said Alessandro Mauceri, director of the independent Memento manager.
According to him, the BNS will do everything to prevent The franc does not strengthen morebecause it puts exporters and the Swiss pressure under pressure. How? “By intervening in the markets (Editor’s note: buying the euro and selling franc) or by lowering the rates more, which could then go into negative territory. ”
Credit or debit cards?
Bank cards can reserve traps. “On a credit card abroad, you must always select payment in euros, not in francs, so as not to be fooled by extreme exchange courses applied by banks abroad,” explains Anton Sussland, independent Genevan financial.
You will be debited during the exchange rate applied by the Swiss bank which provided the card to you. “The differences can exceed 5% depending on the country,” explains the financier.
Cash withdrawals also to avoid. Credit cards often apply high fees set, for example 10 francs per withdrawal. “And for larger amounts, these costs generally amount to around 4%”, teach us Moneyland.ch.
It is therefore better to favor a flow card to remove liquid. “Some neobancs (Editor’s note: Revolut, Neon, Yapeal, etc.) Do not charge or very little fees for transactions abroad and offer very advantageous exchange rates for the euro and the dollar, ”specifies the site. This is not always the case for traditional establishments.
But beware if you are a little tight: unlike the credit cards, the amounts are directly removed from your account with a debit card. So provide a sufficient balance in the event of a trip abroad.
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