Swiss Franc (CHF) question

Richards1983

Hi all - 

I am paid in CHF and would like to switch my money into my Irish account. Is now a good time to do so, or is the EUR getting too strong versus the CHF?

Thanks,
Con

TiGeR KiNgS

Richards1983 wrote: »

Hi all -

I am paid in CHF and would like to switch my money into my Irish account. Is now a good time to do so, or is the EUR getting too strong versus the CHF?

Thanks,
Con

Its best not to play the FX game with your salary (or arguable at all). Move the salary into the currency that you actually need for living use as soon as possible.

Richards1983

That's some solid advice. Thanks.

JTMan

Richards1983 wrote: »

Hi all - 

I am paid in CHF and would like to switch my money into my Irish account. Is now a good time to do so, or is the EUR getting too strong versus the CHF?

Thanks,
Con

What is your intention with the majority of the money? Will you be spending the majority of the money in EUR or saving for eventual spending in CHF? If you will be spending it in CHF, keep it in CHF. If you will be sending it in EUR, convert to EUR, using an online currency broker such as Currency Fair.

Richards1983

Hi JTMan,

My intention would be to have it all in EUR eventually. I actually took my eye off it for a few months as I assumed it'd be best in CHF but checked yesterday and saw that the EUR is performing very well of late versus the CHF.

Well copied re Currency Fair. I've heard they provide a great service.

Thanks for the insight,
Con

coylemj

Richards1983 wrote: »

My intention would be to have it all in EUR eventually.

So you're probably intending to buy a house here in which case keeping your savings in CHF means that you're effectively playing the currency markets.

Which means that you have two risks to keep you awake at night - rising property prices in Ireland and the CHF going in the wrong direction relative to the Euro.

One of those risks is directly under your control. Get your capital into Euros and at least you'll have one less variable to worry about.

Richards1983

Fair point, and both are entirely against me at the moment!