Posted by Allison on 13 April 2012, 14:34
The Swiss franc and the British pound stand as two of the few individual currencies that are still left after the Euro swallowed up many of the other popular currencies across Europe several years ago. But how did they stand against each other in March this year?
The opening rate for the British pound was 1.4280, so we were hoping that the rate would increase over the course of the month. The news on the very first day was good, as it shot up to 1.4435 by the end of the day. The question now was whether it would stay there.
The pound managed to add on another small amount by the end of the next day to finish the first week on 1.4485. But by the time another week had gone by the pound was slightly worse off at a rate of 1.4418. Was the Swiss franc starting to take control and push the pound back down again?
When the 13th of the month struck the pound was even lower by the end of the day, closing out on 1.4430. But then again it surprised us and ended up moving higher to 1.4565 by the end of the next day. We were still a long way away from the low point we had started on, so perhaps the Swiss franc could not get the better of us for this month at least. It did drop back a little though as the Swiss franc pushed its exchange rate to 1.4550 to close the next week.
The following Monday saw the pound achieve a rate of 1.4565 again, but as it would turn out this was the final time that the pound would get a rate of 1.45 against the Swiss franc for the month. While this was disappointing it was not as bad as it could have been. Indeed while it fell to 1.4490 on the 20th, it didn’t lose much more ground over the remaining days of the month. When the 31st finally rolled around, the British pound was left with an exchange rate of 1.4444 to finish off with. This was not bad considering where we had started, so perhaps things are on the up for the pound.