What is the GBP to CHF exchange rate now?
On ECB reference rates, GBP/CHF was 1.0977 on 25 September 2026. The 2026 range has run from a low of 1.0389 on 27 February to a high of 1.1032 on 15 September. The pound has gained 3.0% against the franc this year and is within 0.5% of its high. Check the live GBP to CHF rate at any time.
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 |
| 24 September 2026 (SNB decision day) | 1.0942 |
| 25 September 2026 | 1.0977 |
The pattern is clear. 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 alone. Against most other currencies the pound has slipped since July; the franc is the exception.
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.
Swiss inflation is very low. Consumer prices rose 0.8% in the year to August, and the SNB’s conditional forecast is 0.7% for 2026 and 0.8% for both 2027 and 2028. With inflation that low, the SNB has no reason to raise rates, which keeps the franc’s yield at zero.
The rate gap is the widest of any major pair
| Central bank | Policy rate | Gap to Bank Rate (3.75%) |
|---|---|---|
| Swiss National Bank | 0% | 3.75 points |
| Bank of Japan | 1.25% | 2.50 points |
| European Central Bank (deposit rate) | 2.50% | 1.25 points |
| Federal Reserve (midpoint) | 3.875% | −0.125 points |
That gap pays investors to hold pounds rather than francs, and it helps explain why the franc is the one major currency the pound has gained against since July. See our GBP forecast 2026 for sterling against the other majors.
The Bank of England may raise rates
The Bank of England held Bank Rate at 3.75% on 17 September in a 6–3 vote, with three members voting for 4%. A UK rise on 5 November would widen the gap to 4.00 points. See our Bank of England rate decision tracker.
The franc is still a safe haven
In periods of global stress, investors buy francs, which pushes GBP/CHF down quickly regardless of interest rates. That is the main downside risk for anyone buying francs later. It is also why the SNB keeps the option to intervene.
GBP/CHF forecast: next 3 to 12 months
| Horizon | GBP/CHF range | Main driver |
|---|---|---|
| Next 1–3 months | 1.07–1.12 | Bank of England on 5 November; global risk sentiment |
| Next 6 months | 1.06–1.13 | Whether the rate gap widens further, and safe-haven demand |
| Next 12 months | 1.05–1.14 | The Bank of England’s path against an SNB anchored at zero |
Cambridge Currencies’ forecast ranges as at 25 September 2026. 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.
For GBP/CHF to break above 1.12, the Bank of England would probably need to raise rates in November or December while global markets stay calm.
For GBP/CHF to fall back toward 1.06, it would probably take a global risk-off episode driving safe-haven buying of the franc, or a clear signal that the Bank of England will not raise rates.
What is the Swiss franc to pound forecast?
The Swiss franc to pound forecast (CHF/GBP) is the same forecast turned round. At 1.0977, one franc buys about £0.911. Our six-month range of 1.06–1.13 is equivalent to one franc buying between about £0.885 and £0.943. See the live CHF to GBP rate.
What does the GBP/CHF forecast mean for your transfer?
Swiss school fees
Fees at Swiss international boarding schools can exceed CHF 100,000 a year. In an illustrative example, CHF 100,000 costs about £91,100 at 1.0977, £89,286 at 1.12 and £94,340 at 1.06. That is a spread of about £5,050 inside our six-month range. 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 near its 2026 high against the franc, francs are cheaper in sterling than at any point this year. The risk for buyers who wait is a safe-haven move that pushes the rate back toward 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
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 far above Swiss rates, a GBP/CHF forward sits below spot, and the gap widens with the length of the contract. Our explainer on why the forward rate differs from spot shows why.
GBP/CHF frequently asked questions
What is the GBP to CHF forecast for the next 6 months?
GBP/CHF is forecast between 1.06 and 1.13 over the next six months, and 1.07–1.12 over three months. It fixed at 1.0977 on 25 September 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 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 1.0977 francs on 25 September 2026, so a pound is worth more than a franc. The pound has gained 3.0% 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 below 1%, while Bank Rate is 3.75%. That 3.75-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 cheaper in sterling now than at any other point in 2026. 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. 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 at a credit institution in line with UK safeguarding rules. This article is general guidance, not a personal recommendation.
Sources: Swiss National Bank monetary policy assessment (24 September 2026); Bank of England Monetary Policy Summary (September 2026); ECB euro reference rates (GBP/CHF derived).
