What is the GBP to CHF exchange rate now?
On ECB euro reference rates, GBP/CHF was 1.1008 on 5 November 2026, the day of the Bank of England’s rise. That is 3.2% higher than on 2 January and within 0.2% of the 2026 high of 1.1032 on 15 September. The 6 November fixing was 1.0961, struck before that afternoon’s US payrolls release. Check the live GBP to CHF rate at any time.
| Right now | Level |
|---|---|
| GBP/CHF (ECB, 5 November 2026) | 1.1008 |
| CHF/GBP (ECB, 5 November 2026) | 0.9084 |
| EUR/CHF (ECB, 5 November 2026) | 0.9180 |
| SNB policy rate | 0% (held 24 September 2026) |
| Bank of England Bank Rate | 4.00% (raised 5 November 2026) |
| Next SNB decision | 10 December 2026 |
| Next Bank of England decision | 17 December 2026 |
GBP/CHF exchange rate in 2026: month by month
| Date (ECB fixing) | GBP/CHF (CHF per £1) |
|---|---|
| 2 January 2026 | 1.0662 |
| 30 January 2026 | 1.0571 |
| 27 February 2026 (year low) | 1.0389 |
| 31 March 2026 | 1.0588 |
| 30 April 2026 | 1.0609 |
| 29 May 2026 | 1.0506 |
| 30 June 2026 | 1.0703 |
| 31 July 2026 | 1.0873 |
| 31 August 2026 | 1.0947 |
| 15 September 2026 (year high) | 1.1032 |
| 25 September 2026 | 1.0977 |
| 5 November 2026 | 1.1008 |
The pound was weak against the franc through the spring, then rose steadily from June, gaining 3.5% between the end of May and the end of July. Since mid-September it has held a narrow band just below 1.10, with the Bank of England’s rise doing little more than keep it there.
What is driving GBP/CHF in 2026?
The SNB is holding at zero, and ready to intervene
On 24 September the Swiss National Bank left its policy rate unchanged at 0%. It said it “is also willing to be active in the foreign exchange market as necessary to ensure appropriate monetary conditions”, meaning it can sell francs to stop them strengthening too far. Its conditional inflation forecast, which assumes the rate stays at 0%, was 0.7% for 2026 and 0.8% for both 2027 and 2028.
Swiss inflation has since picked up. The Federal Statistical Office reported consumer prices up 1.5% in the year to October 2026. That is still low by international standards, so a rate rise on 10 December looks unlikely, but it does reduce the chance of a return to negative rates.
The rate gap is the widest of any major pair
| Central bank | Policy rate | Gap to Bank Rate (4.00%) |
|---|---|---|
| Swiss National Bank | 0% (held 24 September) | 4.00 points |
| Bank of Japan | about 1.25% (held 30 October) | 2.75 points |
| European Central Bank (deposit rate) | 2.50% (held 29 October) | 1.50 points |
| Federal Reserve (midpoint) | 3.875% (held 28 October) | 0.125 points |
That gap pays investors to hold pounds rather than francs, and it is the main reason the pound has gained against the franc this year. The cost is that a GBP/CHF forward rate sits well below spot (see below).
The Bank of England has raised rates
The Bank of England raised Bank Rate from 3.75% to 4.00% on 5 November 2026 in an 8–1 vote, with Catherine Mann voting for 4.25%. It was the first rise in three years. UK CPI was 3.5% in September and the Bank expects it to reach about 5% by mid-2027. Governor Andrew Bailey warned against reading the move as the first of a long sequence, though several members see a near-term case for more. The next decision is on 17 December; see our Bank of England rate decision tracker.
The franc is still a safe haven
In periods of global stress, investors buy francs, which can push GBP/CHF down quickly regardless of interest rates. With the Middle East conflict keeping energy prices high, that is the main downside risk for anyone buying francs later, and the reason the SNB keeps the option to intervene. GBP/CHF is also roughly GBP/EUR multiplied by EUR/CHF: our pound to euro forecast of 1.18–1.22 to year-end, with EUR/CHF around 0.91–0.93, is consistent with GBP/CHF of about 1.07–1.13.
GBP/CHF forecast: next 3 to 12 months
| Horizon | GBP/CHF range | Main driver |
|---|---|---|
| To end December 2026 | 1.07–1.13 | SNB on 10 December; Bank of England on 17 December; risk sentiment |
| To end March 2027 | 1.06–1.14 | Whether the Bank of England raises again in February or March |
| Next 6 months (to May 2027) | 1.06–1.14 | Safe-haven demand and energy prices |
| Next 12 months (to November 2027) | 1.04–1.15 | The Bank of England’s path against an SNB anchored at or near zero |
Cambridge Currencies’ forecast ranges as at 8 November 2026, anchored on the 5 November ECB fixing. They are not guarantees, and rates may move outside them. This page is reviewed every four to eight weeks and after Bank of England and SNB decisions.
Our September three-month range of 1.07–1.12 has held. Spot sits close to its top, so we have lifted the year-end ceiling to 1.13, keeping the range roughly balanced around spot: the rate gap supports the pound, while safe-haven demand is a standing risk to the downside.
GBP to CHF forecast: what could push the pound above 1.13 or below 1.07?
Above the range: a second Bank of England rise on 17 December, or clear signals of one in February, while global markets stay calm and the SNB stays at 0%. A move through the September high of 1.1032 would be the first sign.
Below the range: a global risk-off episode driving safe-haven buying of the franc, or a clear signal that the Bank of England will not raise again after November. A fall in GBP/EUR towards 1.18 combined with a firmer franc against the euro would take GBP/CHF to the bottom of our range.
What is the Swiss franc to pound forecast?
The Swiss franc to pound forecast (CHF/GBP) is the same forecast turned round. At 1.1008, one franc buys about £0.91. Our year-end range of 1.07–1.13 is equivalent to one franc buying between about £0.8850 and £0.9346. See the live CHF to GBP rate.
What does the GBP/CHF forecast mean for your transfer?
Swiss school fees
| Illustrative: CHF 100,000 bought at | Cost in pounds | Difference vs 5 November |
|---|---|---|
| 1.07 (bottom of year-end range) | £93,458 | +£2,615 |
| 1.1008 (5 November 2026) | £90,843 | — |
| 1.13 (top of year-end range) | £88,496 | −£2,347 |
In this illustrative example, the year-end range is worth about £4,960 on CHF 100,000 of fees. A forward contract can fix the rate for the academic year, and our guide to paying international school fees from the UK covers the process.
Buying francs with pounds
With the pound close to its 2026 high against the franc, francs are about as cheap in sterling as they have been all year. The risk for buyers who wait is a safe-haven move that pushes the rate back towards 1.07 or the spring levels of 1.04–1.06.
Selling francs for pounds
For anyone bringing Swiss salary, pension or sale proceeds back to the UK, the pound’s rise has reduced what each franc buys. A rate alert at your target level lets you act if the franc strengthens again.
Business payments and forward rates
For businesses paying or receiving francs, a forward contract for UK businesses fixes a known rate for up to 12 months. Because UK rates are about four points above Swiss rates, a GBP/CHF forward sits noticeably below spot, and the gap widens with the length of the contract. Our explainer on why the forward rate differs from spot shows why.
Key dates for GBP/CHF
| Date | Event | Why it matters |
|---|---|---|
| 18 November 2026 | UK CPI (October) | Sets the odds of a second UK rise in December |
| 10 December 2026 | SNB monetary policy assessment | New Swiss inflation forecast; any change in intervention language |
| 16–17 December 2026 | ECB decision | Moves EUR/CHF and GBP/EUR |
| 17 December 2026 | Bank of England decision | Last UK decision of 2026 |
| 4 February 2027 | Bank of England decision and Monetary Policy Report | New UK forecasts |
| 18 March 2027 | SNB and Bank of England decisions | Both on the same day; shape the end-March range |
GBP/CHF frequently asked questions
What is the GBP to CHF forecast for the next 6 months?
GBP/CHF is forecast between 1.07 and 1.13 to the end of December 2026 and between 1.06 and 1.14 over the next six months. It fixed at 1.1008 on 5 November 2026, near its 2026 high of 1.1032.
What is the Swiss National Bank interest rate?
The SNB policy rate is 0%, held on 24 September 2026. The next assessment is on 10 December 2026. The SNB says it is willing to be active in the foreign exchange market as necessary.
Is the pound stronger than the Swiss franc?
Yes. One pound bought 1.1008 francs on 5 November 2026, so a pound is worth more than a franc. The pound has gained 3.2% against the franc in 2026.
Why has the pound risen against the Swiss franc in 2026?
Swiss interest rates are at 0% and Swiss inflation is 1.5%, while Bank Rate is 4.00% after the Bank of England’s rise on 5 November. That 4.00-point gap is the widest between the pound and any major currency, and it rewards holding pounds over francs.
Is now a good time to buy Swiss francs?
Francs are about as cheap in sterling as at any point in 2026, and our year-end range is roughly balanced around spot. Whether to act depends on your deadline and how much risk you can take on a safe-haven move. This is general guidance, not a personal recommendation.
How long does a GBP to CHF transfer take?
GBP to CHF transfers typically complete within one working day. Switzerland is one hour ahead of the UK all year round, so same-day processing is usually possible for morning transfers. See our guide on how long international bank transfers take.
Speak to a specialist about your Swiss franc transfer
Every Cambridge Currencies transfer is handled by phone with a dedicated specialist, from £5,000 upwards. Request a quote for your Swiss franc payment, or see all our currency forecasts. We work with FCA-authorised payment partners Currencycloud (FRN 900199) and ScioPay (FRN 927951), with client funds safeguarded. This article is general guidance, not a personal recommendation.
