Swiss Franc to Japanese Yen exchange rate history 1971 to 2026: two safe havens
One Swiss Franc bought 84.409 JPY in 1971 and 198.419 JPY in 2026. Two safe havens. The series covers 56 years of annual data.
- 2026 avg
- 198.42
- year to date
- Highest avg
- 198.42
- 2026
- Lowest avg
- 63.84
- 2000
- Traded range
- 59.31 to 204.35
- low 2000, high 2026
Source: Federal Reserve H.10 cross rate (DEXSZUS ÷ DEXJPUS). Latest daily observation 2026-10-30.
Annual averages of daily observations.
CHF/JPY in four numbers
- Change since 1971
- +113.8%
- 55 complete years
- Change over 10 years
- +43.4%
- 2015 to 2025
- Average annual change
- +2.3%
- standard deviation 11.3 points
- Largest drawdown
- 57.4%
- 1979 to 1999
CHF/JPY annual average, 1971 to 2026
Annual average with the full trading range for each year. average high–low range
Source: Federal Reserve H.10 cross rate (DEXSZUS ÷ DEXJPUS). Figures are annual averages of daily observations.
Five largest CHF/JPY moves
The largest absolute year-end changes in the published series, using complete calendar years only.
- 1974 +37.2% 86.21 to 118.30
Year-end rate moved from 86.21 to 118.30, a change of 37.2%.
- 1979 +25.6% 119.94 to 150.66
Year-end rate moved from 119.94 to 150.66, a change of 25.6%.
- 2013 +24.9% 94.64 to 118.21
Year-end rate moved from 94.64 to 118.21, a change of 24.9%.
- 1980 -24.6% 150.66 to 113.62
Year-end rate moved from 150.66 to 113.62, a change of 24.6%.
- 1999 -22.1% 82.33 to 64.13
Year-end rate moved from 82.33 to 64.13, a change of 22.1%.
CHF to JPY exchange rate by year
Every year since 1971: annual average, the year high and low, the year-end rate, and the change on the previous year.
| Year | Average | High | Low | Year end | Change |
|---|---|---|---|---|---|
| 1971 | 84.41 | 88.19 | 80.36 | 80.47 | n/a |
| 1972 | 79.38 | 81.45 | 75.92 | 80.00 | -0.6% |
| 1973 | 85.85 | 97.11 | 77.09 | 86.21 | +7.8% |
| 1974 | 98.36 | 119.70 | 84.30 | 118.30 | +37.2% |
| 1975 | 114.93 | 122.28 | 109.55 | 116.42 | -1.6% |
| 1976 | 118.60 | 125.43 | 115.45 | 119.75 | +2.9% |
| 1977 | 111.69 | 120.40 | 107.03 | 120.40 | +0.5% |
| 1978 | 117.48 | 132.60 | 107.65 | 119.94 | -0.4% |
| 1979 | 131.77 | 159.09 | 116.28 | 150.66 | +25.6% |
| 1980 | 135.29 | 151.62 | 113.62 | 113.62 | -24.6% |
| 1981 | 112.41 | 129.40 | 102.83 | 122.93 | +8.2% |
| 1982 | 122.62 | 129.17 | 115.77 | 116.91 | -4.9% |
| 1983 | 113.17 | 119.57 | 105.83 | 106.33 | -9.1% |
| 1984 | 101.21 | 107.79 | 96.27 | 96.73 | -9.0% |
| 1985 | 97.32 | 105.10 | 89.25 | 97.21 | +0.5% |
| 1986 | 93.66 | 99.12 | 89.27 | 98.08 | +0.9% |
| 1987 | 96.91 | 101.20 | 94.35 | 95.36 | -2.8% |
| 1988 | 87.70 | 96.25 | 82.97 | 83.26 | -12.7% |
| 1989 | 84.38 | 93.32 | 78.92 | 93.32 | +12.1% |
| 1990 | 104.43 | 116.30 | 92.30 | 106.30 | +13.9% |
| 1991 | 94.05 | 106.64 | 87.13 | 91.74 | -13.7% |
| 1992 | 90.35 | 100.35 | 85.16 | 85.16 | -7.2% |
| 1993 | 75.16 | 85.54 | 66.94 | 75.07 | -11.9% |
| 1994 | 74.83 | 78.31 | 70.78 | 76.03 | +1.3% |
| 1995 | 79.59 | 91.32 | 71.61 | 89.50 | +17.7% |
| 1996 | 88.04 | 90.96 | 83.96 | 86.46 | -3.4% |
| 1997 | 83.46 | 91.63 | 76.03 | 89.29 | +3.3% |
| 1998 | 90.27 | 100.27 | 82.33 | 82.33 | -7.8% |
| 1999 | 75.74 | 84.08 | 63.87 | 64.13 | -22.1% |
| 2000 | 63.84 | 70.58 | 59.31 | 70.58 | +10.1% |
| 2001 | 72.02 | 78.95 | 66.15 | 78.95 | +11.9% |
| 2002 | 80.53 | 85.94 | 75.95 | 85.85 | +8.7% |
| 2003 | 86.21 | 91.84 | 79.04 | 86.53 | +0.8% |
| 2004 | 87.08 | 91.64 | 80.74 | 89.98 | +4.0% |
| 2005 | 88.37 | 93.09 | 85.15 | 89.66 | -0.3% |
| 2006 | 92.86 | 97.60 | 87.85 | 97.60 | +8.9% |
| 2007 | 98.16 | 101.80 | 93.66 | 98.61 | +1.0% |
| 2008 | 95.96 | 104.59 | 75.32 | 85.07 | -13.7% |
| 2009 | 86.37 | 91.27 | 76.29 | 89.86 | +5.6% |
| 2010 | 84.21 | 90.51 | 77.54 | 87.17 | -3.0% |
| 2011 | 90.20 | 105.51 | 81.93 | 82.12 | -5.8% |
| 2012 | 85.19 | 94.64 | 78.53 | 94.64 | +15.2% |
| 2013 | 105.35 | 118.43 | 94.25 | 118.21 | +24.9% |
| 2014 | 115.55 | 124.21 | 112.12 | 120.65 | +2.1% |
| 2015 | 125.85 | 138.37 | 114.81 | 120.07 | -0.5% |
| 2016 | 110.31 | 118.80 | 102.26 | 114.94 | -4.3% |
| 2017 | 113.91 | 118.31 | 108.22 | 115.72 | +0.7% |
| 2018 | 112.86 | 118.45 | 108.89 | 111.57 | -3.6% |
| 2019 | 109.71 | 112.48 | 107.04 | 112.30 | +0.7% |
| 2020 | 113.78 | 117.50 | 108.85 | 116.72 | +3.9% |
| 2021 | 120.12 | 125.92 | 116.18 | 125.92 | +7.9% |
| 2022 | 137.53 | 150.19 | 123.85 | 142.64 | +13.3% |
| 2023 | 156.56 | 170.28 | 137.71 | 167.66 | +17.6% |
| 2024 | 171.93 | 179.86 | 165.89 | 173.54 | +3.5% |
| 2025 | 180.48 | 198.27 | 166.25 | 197.58 | +13.8% |
| 2026 YTD | 198.42 | 204.35 | 188.37 | 191.34 | -3.2% |
1971–2026 · 55 complete calendar years. Annual figures are averages of available daily observations. 2026 is year to date: the average is based on 209 published trading days through 2026-10-30.
CHF/JPY by decade
Annual averages grouped into decade buckets. The first and last buckets may cover fewer than ten years.
| Period | Average | High | Low | vs previous |
|---|---|---|---|---|
| 1971–1979 | 104.72 | 159.09 | 75.92 | n/a |
| 1980–1989 | 104.47 | 151.62 | 78.92 | -0.2% |
| 1990–1999 | 85.59 | 116.30 | 63.87 | -18.1% |
| 2000–2009 | 85.14 | 104.59 | 59.31 | -0.5% |
| 2010–2019 | 105.31 | 138.37 | 77.54 | +23.7% |
| 2020–2026 | 154.12 | 204.35 | 108.85 | +46.3% |
Average of the annual averages in each period. The first and last rows cover partial decades.
CHF/JPY since 1971
Swiss Franc to Japanese Yen averaged 84.409 JPY in 1971 and 180.476 JPY in 2025, 113.8% higher across 55 complete years.
The annual average has ranged from 63.843 in 2000 to 198.419 in 2026. On individual trading days the series reached 59.312 and 204.346, a ratio of 3.4 to 1.
The five largest CHF/JPY moves
Ranked by absolute year-end change, the five largest moves were 1974 (+37.2%), 1979 (+25.6%), 2013 (+24.9%), 1980 (-24.6%), 1999 (-22.1%). The biggest was 1974, when the rate moved from 86.210 to 118.302, a change of 37.2%.
Across 55 complete years the pair rose in 32 and fell in 22. The average annual change was +2.3% with a standard deviation of 11.3 percentage points, which is one way to compare its volatility with other pairs.
How wide is the CHF/JPY range?
The highest single observation in the series was 204.346 in 2026, and the lowest was 59.312 in 2000. That is a ratio of 3.4 to 1 between the two extremes.
Annual averages are narrower than single-day levels because they smooth the intra-year swings. Even so, the average has ranged from 63.843 to 198.419, a spread that matters for anyone converting at different points in the cycle.
CHF/JPY by decade
Grouped by decade, the annual average was 104.720 in 1971-1979 and 154.116 in 2020-2026. The widest decade-to-decade change was +46.3% between 2010-2019 and 2020-2026, when the average moved from 105.313 to 154.116.
The final bucket, 2020-2026, is a partial decade and includes the year-to-date 2026 average. The table below shows every bucket with its high and low, so the short-run moves and the long-run level can be read together.
Two safe havens in CHF/JPY
CHF/JPY includes a safe-haven currency. The Swiss franc is a traditional safe-haven currency, supported by Switzerland's current account surplus and low public debt.
Demand for CHF rises when investors are risk-averse, when the euro area or global markets are under stress, and when the domestic central bank is seen as credible. That demand can dominate the normal rate differential, which is why the pair can strengthen even when the CHF interest rate is lower.
Both the franc and the yen attract safe-haven demand, so CHF/JPY is driven by relative stress and by the two central banks. The series shows the pattern: the average moved +113.8% from 1971 to 2025, and the largest single-year move was +37.2% in 1974.
How to read the CHF/JPY data
This is a derived cross rate. Each day's CHF/JPY is calculated from the two US dollar legs in Federal Reserve H.10 cross rate (DEXSZUS ÷ DEXJPUS), joined on the same calendar date with up to seven days of holiday carry-forward. No figure on this page is estimated or interpolated.
CHF/JPY history: the years that moved the rate
Each event below is dated and tied to one of the currencies in this pair.
- 1990 1990-01-04
Japanese asset bubble begins to deflate
Japanese equity and property prices began a sustained decline in 1990. The Nikkei 225 fell more than 35 percent during the year, starting a long period of weak growth and low interest rates.
- 2008 2008-09-15
Lehman Brothers files for bankruptcy
The collapse of Lehman Brothers triggered a global financial crisis, a flight into the US dollar and extreme volatility across currency markets.
- 2011 2011-09-06
Swiss National Bank sets a 1.20 floor against the euro
The Swiss National Bank set a minimum exchange rate of CHF 1.20 per euro and committed to defend it, as safe-haven demand pushed the franc higher during the euro area debt crisis.
- 2015 2015-01-15
Swiss National Bank abandons the euro floor
The Swiss National Bank discontinued the CHF 1.20 per euro minimum exchange rate without warning. The franc surged and the move caused severe losses for some currency brokers.
CHF/JPY history: common questions
What was the CHF/JPY rate in 1971?
One CHF averaged 84.409 JPY in 1971, with a range of 80.361 to 88.188 and a year-end rate of 80.468.
What is the highest CHF/JPY rate on record?
The highest annual average was 198.419 in 2026. The highest single observation was 204.346 in 2026.
What is the lowest CHF/JPY rate on record?
The lowest annual average was 63.843 in 2000. The lowest single observation was 59.312 in 2000.
What was the biggest single-year move in CHF/JPY?
1974 was the largest, at +37.2%. The year-end rate moved from 86.210 to 118.302.
How volatile has CHF/JPY been?
Across 55 complete years the average annual change was +2.3% with a standard deviation of 11.3 percentage points. The largest drawdown was 57.4%, from 1979 to 1999.
What is the CHF/JPY rate in 2026?
The 2026 average is 198.419 JPY per CHF, based on the year to date. The latest complete year, 2025, averaged 180.476.
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