Switzerland Real Effective Exchange Rate in 2015
Switzerland Real Effective Exchange Rate opened 2015 at 102.38 and closed at 100.07, a -2.26% move for the year. The high of 104.16 was reached on June 1, and the low of 99.38 on November 1.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | 102.38 | 102.38 | 102.38 | 102.38 | +0.00% |
| Feb | 103.84 | 103.84 | 103.84 | 103.84 | +0.00% |
| Mar | 101.66 | 101.66 | 101.66 | 101.66 | +0.00% |
| Apr | 102.81 | 102.81 | 102.81 | 102.81 | +0.00% |
| May | 104.14 | 104.14 | 104.14 | 104.14 | +0.00% |
| Jun | 104.16 | 104.16 | 104.16 | 104.16 | +0.00% |
| Jul | 102.70 | 102.70 | 102.70 | 102.70 | +0.00% |
| Aug | 101.18 | 101.18 | 101.18 | 101.18 | +0.00% |
| Sep | 100.64 | 100.64 | 100.64 | 100.64 | +0.00% |
| Oct | 100.66 | 100.66 | 100.66 | 100.66 | +0.00% |
| Nov | 99.38 | 99.38 | 99.38 | 99.38 | +0.00% |
| Dec | 100.07 | 100.07 | 100.07 | 100.07 | +0.00% |
Events During 2015
The PBoC devalued the yuan by 1.9% in a single day on August 11, 2015, the first meaningful devaluation since 1994. Global risk assets convulsed.
Brent crude fell from $115 in June 2014 to $27 in January 2016, a 77% collapse. Shale oversupply and OPEC's refusal to cut production broke the commodity supercycle that had dominated markets since 2003.
The Swiss National Bank abandoned its 1.20 EUR/CHF floor on January 15, 2015. The franc immediately surged 30%, blowing up retail FX brokers and exposing the fragility of exchange rate commitments.
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