Currency and exchange rate issues
We will remember the morning of the 15th January 2015 for a long time. The decision taken by the Swiss National Bank to drop the minimum exchange rate of 1.20 Swiss Francs to the Euro was a big surprise to everyone in Switzerland and throughout the world, causing various reactions on the financial markets.
That the rate then closed at around 1.00 CHF per €, where it has since stayed, is evidence of a significant revaluation of the Swiss franc.
CREALET strives to offer you a fair pricing system, where we pass on to you directly all currency advantages achieved by buying components in the euro zone. Euro prices are multiplied by the mean rate of the previous day and are factored as such into our pricing.
A substantial share of our costs (e.g. manufacturing and staff costs) are incurred in local currencies, which means that we achieve no currency advantages in our pricing in this respect. However, we endeavour to reach the optimum prices with our production partners at all times. We have been doing this since the introduction of the minimum exchange rate in 2011 and we will continue to do so.
In these difficult times in particular, we face a tough challenge of being able to offer innovative solutions to our business associates at affordable prices. At CREALET we aim to make a contribution towards this and hope that we will be able to welcome you as one of our clients in the future, too.
Please contact Walter Wirz (CEO) for questions regarding currency issues.
We thank you for your confidence.