Is Swiss franc exchange rate pegged / linked to Euro ?

Is the exchange rate of Swiss franc pegged or linked to Euro ?
06 Sep 2019 at 07:27 PM
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Swiss frank exchange rate was pegged to Euro. The Swiss National Bank pegged Swiss franc to the Euro on 6th September 2011, by setting a minimum exchange rate of 1.20 Francs to the Euro. The peg was created because of strong Swiss franc (weak Euro due to Eurozone debt crisis), what was making Switzerland an expensive place to do business at that time.

The Swiss National Bank set a minimum exchange rate of EUR/CHF (capping franc's appreciation), saying "the value of the franc is a threat to the economy". The currency peg was removed on 15th January 2015 and the Swiss franc promptly increased in value compared with the Euro by approx. 30%.
08 Sep 2019 at 02:50 PM
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