The pace of economic developments has accelerated during the coronavirus crisis. The downturn happened at unprecedented speed, and the recovery was also extremely rapid – so fast that an overheated economy is now causing prices to soar worldwide.
But prices have risen much less sharply in Switzerland than abroad. This difference is also reflected in the Swiss franc exchange rate. We’re all used to it: every currency falls in value against the Swiss franc over time. The US dollar once cost 4 francs, whereas today it’s less than 1. The euro cost over 1.60 francs before the financial crisis, while today 1 euro is almost equivalent in value to 1 franc.