Buriram Expats

Buriram Province - General Category => Jobs, economy, banking, business, investment in Buriram => Topic started by: davureborn on January 16, 2015, 08:05:36 AM

Title: Swiss Frank
Post by: davureborn on January 16, 2015, 08:05:36 AM

Wow, after watching the Swiss Frank slowly decline against the Baht, the rate shot up overnight from 32 to 38, and if I read correctly, was even briefly at 48! The National Bank removed capping of the exchange rate with the Euro, without notice. The Swiss just didn't know what to do with all the foreign currencies being invested there, even negative interest rates didn't make much difference.
As I am building at the moment this is definitely good news for me, I can get that roof on next week instead of next month.

Title: Re: Swiss Frank
Post by: urleft on January 17, 2015, 09:36:44 AM

Swiss mess could make oil plunge seem like minor hiccup

By Shawn Langlois
Published: Jan 15, 2015 10:38 a.m. ET


While you were sleeping, all hell broke loose in Switzerland, as the central bank ditched its currency cap against the euro after four years and slashed interest rates to negative 0.75%. The Swiss franc is rallying wildly, while the Swiss stock market is cratering and U.S. stock futures are mostly on the losing side as investors figure out this latest shock to the markets

http://www.marketwatch.com/story/another-day-another-plunging-asset-2015-01-15

Title: Re: Swiss Frank
Post by: davureborn on January 17, 2015, 10:46:47 AM

Buy gold! Run for the hills! To be accurate, the Frank is now back at its level last year in May, nearly. Things will settle down I expect. I guess my neighbours near the French frontier have all been shopping in France by now.