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Holding Swiss francs in a Swiss bank account
Mon, 03/08/2010 - 23:54
Holding Swiss francs in a Swiss bank account
I am thinking about opening a Swiss bank account to hold cash in Swiss francs. This is legal and possible for US citizens to do. The Swiss banking system is still considered one of the soundest in the world. Switzerland does not use the Euro. Their monetary and fiscal policies appear to be sound.
Chris and others have recommended Canadian and Australian dollars but not Swiss francs. Is the franc expected to devalue along with the US dollar in a crisis. Why would it do any worse than Canadian our Australian dollars?
Please comment if you have any thoughts on
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Wed, 03/10/2010 - 23:33
#2
Re: Holding Swiss francs in a Swiss bank account
That makes sense SteveW. Thanks.
Why would it do any worse than Canadian our Australian dollars?
Canadian and Australian dollars are backed by commodities produced by those countries. The Swiss franc devalued earlier this year and currently is down 6% this year against the Canadian dollar.