British Pound to Swiss Franc exchange rate history 1971 to 2026: risk appetite in Europe
One British Pound bought 10.059 CHF in 1971 and 1.073 CHF in 2026. Risk appetite in Europe. The series covers 56 years of annual data.
- 2026 avg
- 1.073
- year to date
- Highest avg
- 10.059
- 1971
- Lowest avg
- 1.073
- 2026
- Traded range
- 1.034 to 10.507
- low 2026, high 1972
Source: Federal Reserve H.10 cross rate (DEXUSUK ÷ DEXSZUS). Latest daily observation 2026-10-30.
Annual averages of daily observations.
GBP/CHF in four numbers
- Change since 1971
- -89.1%
- 55 complete years
- Change over 10 years
- -25.6%
- 2015 to 2025
- Average annual change
- -3.5%
- standard deviation 10.5 points
- Largest drawdown
- 89.3%
- 1971 to 2025
GBP/CHF against related pairs
Each comparison uses the 2025 year-end change in this dataset, not a daily or monthly window.
GBP/CHF 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 (DEXUSUK ÷ DEXSZUS). Figures are annual averages of daily observations.
GBP/CHF since 1971
British Pound to Swiss Franc averaged 10.059 CHF in 1971 and 1.094 CHF in 2025, 89.1% lower across 55 complete years.
The annual average has ranged from 1.073 in 2026 to 10.059 in 1971. On individual trading days the series reached 1.034 and 10.507, a ratio of 10.2 to 1.
GBP/CHF against related pairs
EUR/CHF moved -0.8% in 2025, while GBP/CHF moved -6.0% over the same calendar year.
USD/CHF moved -12.5% in 2025, while GBP/CHF moved -6.0% over the same calendar year.
GBP/JPY moved +7.0% in 2025, while GBP/CHF moved -6.0% over the same calendar year.
What moves GBP/CHF
GBP: Sterling is a free-floating currency with a long history of fixed parities before 1971 and a large financial services sector.
CHF: The Swiss franc is a traditional safe-haven currency, supported by Switzerland's current account surplus and low public debt.
For GBP/CHF, the GBP leg responds to Bank of England policy, UK inflation, Brexit and trade relations, while the CHF leg responds to safe-haven demand, Swiss National Bank policy, euro area risk. The exchange rate is the market's attempt to balance the two sets of forces.
Sterling against the Swiss safe haven
GBP/CHF 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.
The franc attracts capital when markets are stressed, while sterling is more cyclical and sensitive to UK policy. The series shows the pattern: the average moved -89.1% from 1971 to 2025, and the largest single-year move was -30.6% in 2008.
The five largest GBP/CHF moves
Ranked by absolute year-end change, the five largest moves were 2008 (-30.6%), 1996 (+27.9%), 1976 (-21.5%), 1974 (-20.9%), 1980 (+20.7%). The biggest was 2008, when the rate moved from 2.248 to 1.560, a change of 30.6%.
Across 55 complete years the pair rose in 18 and fell in 36. The average annual change was -3.5% with a standard deviation of 10.5 percentage points, which is one way to compare its volatility with other pairs.
GBP/CHF by decade
Grouped by decade, the annual average was 6.195 in 1971-1979 and 1.150 in 2020-2026. The widest decade-to-decade change was -49.6% between 1971-1979 and 1980-1989, when the average moved from 6.195 to 3.125.
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.
How to read the GBP/CHF data
This is a derived cross rate. Each day's GBP/CHF is calculated from the two US dollar legs in Federal Reserve H.10 cross rate (DEXUSUK ÷ DEXSZUS), joined on the same calendar date with up to seven days of holiday carry-forward. No figure on this page is estimated or interpolated.
GBP/CHF history: the years that moved the rate
Each event below is dated and tied to one of the currencies in this pair.
- 1992 1992-09-16
United Kingdom leaves the Exchange Rate Mechanism
Sustained speculative selling forced the United Kingdom to withdraw sterling from the European Exchange Rate Mechanism on Black Wednesday.
- 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.
GBP to CHF 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 | 10.059 | 10.416 | 9.720 | 9.990 | n/a |
| 1972 | 9.563 | 10.507 | 8.820 | 8.854 | -11.4% |
| 1973 | 7.762 | 8.862 | 6.903 | 7.550 | -14.7% |
| 1974 | 6.970 | 7.677 | 5.888 | 5.972 | -20.9% |
| 1975 | 5.730 | 6.129 | 5.295 | 5.304 | -11.2% |
| 1976 | 4.519 | 5.300 | 3.805 | 4.163 | -21.5% |
| 1977 | 4.193 | 4.402 | 3.791 | 3.821 | -8.2% |
| 1978 | 3.428 | 3.875 | 2.935 | 3.307 | -13.4% |
| 1979 | 3.530 | 3.835 | 3.295 | 3.539 | +7.0% |
| 1980 | 3.897 | 4.270 | 3.521 | 4.270 | +20.7% |
| 1981 | 3.975 | 4.609 | 3.332 | 3.424 | -19.8% |
| 1982 | 3.545 | 3.712 | 3.202 | 3.248 | -5.1% |
| 1983 | 3.182 | 3.361 | 3.015 | 3.163 | -2.6% |
| 1984 | 3.129 | 3.243 | 2.995 | 3.012 | -4.8% |
| 1985 | 3.156 | 3.397 | 2.956 | 2.977 | -1.2% |
| 1986 | 2.638 | 3.031 | 2.312 | 2.393 | -19.6% |
| 1987 | 2.440 | 2.500 | 2.309 | 2.398 | +0.2% |
| 1988 | 2.604 | 2.723 | 2.412 | 2.716 | +13.3% |
| 1989 | 2.679 | 2.854 | 2.479 | 2.488 | -8.4% |
| 1990 | 2.468 | 2.565 | 2.339 | 2.463 | -1.0% |
| 1991 | 2.528 | 2.584 | 2.441 | 2.541 | +3.2% |
| 1992 | 2.480 | 2.739 | 2.085 | 2.218 | -12.7% |
| 1993 | 2.219 | 2.312 | 2.136 | 2.199 | -0.9% |
| 1994 | 2.091 | 2.210 | 1.989 | 2.052 | -6.7% |
| 1995 | 1.864 | 2.051 | 1.760 | 1.793 | -12.6% |
| 1996 | 1.931 | 2.293 | 1.794 | 2.293 | +27.9% |
| 1997 | 2.376 | 2.519 | 2.266 | 2.400 | +4.7% |
| 1998 | 2.403 | 2.567 | 2.228 | 2.284 | -4.8% |
| 1999 | 2.432 | 2.583 | 2.241 | 2.573 | +12.7% |
| 2000 | 2.559 | 2.726 | 2.419 | 2.423 | -5.8% |
| 2001 | 2.431 | 2.551 | 2.310 | 2.414 | -0.4% |
| 2002 | 2.333 | 2.432 | 2.226 | 2.226 | -7.8% |
| 2003 | 2.197 | 2.293 | 2.104 | 2.209 | -0.8% |
| 2004 | 2.276 | 2.383 | 2.155 | 2.187 | -1.0% |
| 2005 | 2.265 | 2.323 | 2.185 | 2.260 | +3.4% |
| 2006 | 2.308 | 2.397 | 2.243 | 2.389 | +5.7% |
| 2007 | 2.401 | 2.490 | 2.247 | 2.248 | -5.9% |
| 2008 | 1.997 | 2.215 | 1.520 | 1.560 | -30.6% |
| 2009 | 1.696 | 1.805 | 1.551 | 1.675 | +7.3% |
| 2010 | 1.610 | 1.708 | 1.442 | 1.442 | -13.9% |
| 2011 | 1.421 | 1.561 | 1.180 | 1.456 | +1.0% |
| 2012 | 1.486 | 1.545 | 1.420 | 1.489 | +2.2% |
| 2013 | 1.449 | 1.492 | 1.408 | 1.476 | -0.9% |
| 2014 | 1.507 | 1.551 | 1.449 | 1.548 | +4.9% |
| 2015 | 1.471 | 1.554 | 1.284 | 1.477 | -4.5% |
| 2016 | 1.334 | 1.480 | 1.195 | 1.253 | -15.1% |
| 2017 | 1.268 | 1.333 | 1.226 | 1.317 | +5.1% |
| 2018 | 1.307 | 1.382 | 1.243 | 1.255 | -4.8% |
| 2019 | 1.269 | 1.337 | 1.170 | 1.284 | +2.3% |
| 2020 | 1.204 | 1.280 | 1.129 | 1.208 | -5.9% |
| 2021 | 1.259 | 1.302 | 1.194 | 1.235 | +2.2% |
| 2022 | 1.180 | 1.259 | 1.057 | 1.116 | -9.6% |
| 2023 | 1.117 | 1.146 | 1.070 | 1.071 | -4.0% |
| 2024 | 1.125 | 1.165 | 1.072 | 1.135 | +6.0% |
| 2025 | 1.094 | 1.146 | 1.044 | 1.067 | -6.0% |
| 2026 YTD | 1.073 | 1.108 | 1.034 | 1.103 | +3.3% |
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.
GBP/CHF 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 | 6.195 | 10.507 | 2.935 | n/a |
| 1980–1989 | 3.125 | 4.609 | 2.309 | -49.6% |
| 1990–1999 | 2.279 | 2.739 | 1.760 | -27.1% |
| 2000–2009 | 2.246 | 2.726 | 1.520 | -1.4% |
| 2010–2019 | 1.412 | 1.708 | 1.170 | -37.1% |
| 2020–2026 | 1.150 | 1.302 | 1.034 | -18.5% |
Average of the annual averages in each period. The first and last rows cover partial decades.
Five largest GBP/CHF moves
The largest absolute year-end changes in the published series, using complete calendar years only.
- 2008 -30.6% 2.248 to 1.560
Year-end rate moved from 2.248 to 1.560, a change of 30.6%.
- 1996 +27.9% 1.793 to 2.293
Year-end rate moved from 1.793 to 2.293, a change of 27.9%.
- 1976 -21.5% 5.304 to 4.163
Year-end rate moved from 5.304 to 4.163, a change of 21.5%.
- 1974 -20.9% 7.550 to 5.972
Year-end rate moved from 7.550 to 5.972, a change of 20.9%.
- 1980 +20.7% 3.539 to 4.270
Year-end rate moved from 3.539 to 4.270, a change of 20.7%.
GBP/CHF history: common questions
What was the GBP/CHF rate in 1971?
One GBP averaged 10.059 CHF in 1971, with a range of 9.720 to 10.416 and a year-end rate of 9.990.
What is the highest GBP/CHF rate on record?
The highest annual average was 10.059 in 1971. The highest single observation was 10.507 in 1972.
What was the biggest single-year move in GBP/CHF?
2008 was the largest, at -30.6%. The year-end rate moved from 2.248 to 1.560.
How volatile has GBP/CHF been?
Across 55 complete years the average annual change was -3.5% with a standard deviation of 10.5 percentage points. The largest drawdown was 89.3%, from 1971 to 2025.
What is the lowest GBP/CHF rate on record?
The lowest annual average was 1.073 in 2026. The lowest single observation was 1.034 in 2026.
What is the GBP/CHF rate in 2026?
The 2026 average is 1.073 CHF per GBP, based on the year to date. The latest complete year, 2025, averaged 1.094.
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