Franc’s relentless rise alarms Swiss companies
Financial Times
February 15, 2026
AI-Generated Deep Dive Summary
The Swiss Franc’s unwavering ascent has raised alarms among Swiss companies, particularly those reliant on exports and international trade. As the safe-haven currency continues its bull run, businesses face growing concerns over declining sales and shrinking profit margins due to rising costs for foreign buyers. This relentless appreciation of the Franc is reshaping the economic landscape in Switzerland, where many firms are grappling with reduced competitiveness in global markets.
The Franc’s ascent has been fueled by its status as a haven currency during times of geopolitical uncertainty and economic instability elsewhere. Investors seeking refuge have poured into Swiss assets, driving up demand for the currency. This trend has historical parallels but is amplified by modern financial dynamics, including low interest rates and central bank policies that have weakened other major currencies.
Swiss companies across various sectors are feeling the strain. Export-heavy industries, such as manufacturing and chemicals, are particularly vulnerable to fluctuating exchange rates. Additionally, the tourism sector, a cornerstone of Switzerland’s economy, is facing challenges as higher costs for foreign visitors dampen demand. Even domestically focused businesses are not immune, as rising import prices and operational expenses squeeze profit margins.
The Swiss National Bank (SNB) has taken measures to stabilize the Franc, including interventions in currency markets. However, these
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Originally published on Financial Times on 2/15/2026