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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

    A graduate of the University of Geneva in Business Administration with a specialisation in finance, Daniel Varela began his career in 1989 as a fixed‑income portfolio manager. He joined Banque Piguet & Cie in 1999 as Head of Institutional Asset Management, also overseeing the Bank’s fixed‑income analysis and management. In 2011, he took charge of Piguet Galland’s investment strategy and the Investment Department. He has been a member of the Executive Committee since January 2012, serving as Chief Investment Officer.

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