CHF to USD Historical Exchange Rates

January 15, 2015 — the SNB flash crash. The Swiss National Bank abruptly removed the 1.20 EUR/CHF cap it had defended since 2011, and the franc surged 30% in minutes. CHF/USD spiked from around 1.01 to 1.30 before settling near 1.17 by day's end. Several retail FX brokers went insolvent; billions in leveraged short-CHF positions blew up. It remains one of the most violent currency moves in modern forex history.

2011 — the franc breaks parity. Amid the eurozone debt crisis, investors fled into CHF as a safe haven. CHF/USD broke above 1.00 for the first time in August 2011 and has stayed above parity since. The franc's appreciation was so aggressive it damaged Swiss exporters, prompting the SNB to introduce the 1.20 EUR/CHF floor in September 2011 — the floor that collapsed in 2015.

2020 COVID shock. As global markets panicked in March 2020, CHF/USD pushed toward 1.14 as traditional safe-haven flows favored the franc alongside the dollar. Unlike most other pairs, CHF held firm even as USD also rallied — reflecting the franc's unique dual status as both a safe haven and a developed-market currency.

2022-2023 — SNB exits negative rates. After eight years of negative interest rates (the lowest was -0.75%, held from 2015 to 2022), the SNB raised rates alongside the Fed and ECB. The franc rallied to parity with USD (around 0.9-1.0 range) and the pair traded its tightest ranges in years as both central banks tightened.

2024-2025 — divergence returns. The SNB cut rates back to near-zero while the Fed held higher for longer. CHF/USD has oscillated between 1.05 and 1.20 depending on global risk appetite and SNB intervention signaling. The franc's safe-haven premium remains intact — any risk-off episode reliably pushes CHF higher.