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Exchanging francs: a smart move during 'Black Monday'

exchanging-francs-a-smart-move-during-black-monday-piguet-galland
  • Tribune De Genève

    Tribune De Genève

  • Daniel Varela

    Daniel Varela Chief Investment Officer

exchanging-francs-a-smart-move-during-black-monday-piguet-galland

The testimony of Daniel Varela, Chief Investment Officer, regarding the recent appreciation of the Swiss franc against the euro was published in the Tribune de Genève on August 7, 2024.

 

The Swiss franc, with a rate of 0.9395 per euro and reaching its annual peak this Monday, prompted many individuals to rush to exchange their currencies and take advantage of this situation. 

Forecasts indicated an imminent decline in the national currency.

"Just two weeks ago, the National Bank, victorious in its battle against inflation in Switzerland, could come to the aid of all the country's businesses, which were finding it increasingly difficult to sell their products abroad, by orchestrating a depreciation of the national currency," recalls Daniel Varela.

Authors

  • Tribune De Genève

    Tribune De Genève

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  • Daniel Varela

    Daniel Varela

    Chief Investment Officer

    linkedIn

    Daniel Varela holds a degree in business administration with a specialisation in finance from the University of Geneva and began his career in 1989 as a fixed income manager. He joined Banque Piguet & Cie in 1999 as head of institutional asset management and with responsibility for bond analysis and management. In 2011, he became head of the investment strategy and Piguet Galland's investment department. In 2012, he joined Piguet Galland's Executive Committee as CIO.

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