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The euro collapses against the Swiss franc: a historic level at 0.9210 francs

ByJean-Michel

The euro has fallen to an all-time low against the Swiss franc. On Tuesday, the European currency fell to 0.9210 francs, its lowest level ever recorded. This decline reflects investors' rush to the Swiss franc, considered a safe haven in times of global uncertainty.

In the afternoon, the euro recovered slightly to trade around 0.9230 francs, according to figures relayed by 20 Minuten.

Why the Swiss franc is rising

This new surge in the franc is explained by the climate of economic and geopolitical instability. When markets are uncertain, investors favor safe currencies—and the Swiss franc remains a global benchmark for stability.

Faced with international tensions, risks of recession and hesitant monetary policies, the Swiss currency confirms its status as a safe haven.

A strong franc: between pride and worry

While this appreciation of the franc reassures Swiss savers, it penalizes exporters. A strong franc makes Swiss products more expensive abroad, reducing the competitiveness of key sectors such as:

  • watchmaking,
  • precision mechanics,
  • pharmacy and advanced technologies.

On the other hand, for Swiss households, the situation has a positive side: imports are cheaper, which helps to contain some inflation.

A divisive force

For Switzerland, the strength of the franc is a double-edged sword. It protects purchasing power, but it hinders exports and puts pressure on companies focused on foreign markets.

At 0.9210 francs to the euro, the Swiss currency reached a historic record, reminding us that in an unstable world, the Swiss franc remains a solid — but demanding — refuge.

🟫 Our analysis: a strong franc, reflecting a world under tension

The Swiss franc has once again confirmed its status as a global safe haven currency. As long as markets remain marked by geopolitical volatility, economic uncertainty, and distrust of the euro, the Swiss currency will remain in demand.

But this solidity could become a burden for exporting companies, particularly those active in watchmaking, pharmaceuticals or precision mechanics.

In the medium term, the Swiss National Bank (SNB) may be forced to adjust its monetary policy to avoid too marked an imbalance between domestic growth and high exchange rates.

🔎 Current exchange rate: 1 EUR = 0.923 CHF (updated October 21, 2025)

📈 The context in figures

  • Current exchange rate: 1 EUR = 0.923 CHF
  • All-time low: 0.9210 CHF (October 21, 2025)
  • Previous record: 0.9250 CHF (March 2022)
  • SNB key rate: 1.50%
  • Inflation in Switzerland: 1.3% (September 2025)
  • Eurozone inflation: 2.7% (September 2025)

💬 The strength of the Swiss franc boosts local purchasing power but slows exports. Investors, however, continue to bet on Swiss stability.

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