🇨🇭 CHF vs 🇯🇵 JPY: Currency Strength Comparison
Data updated: November 6, 2026
On November 6, 2026, one Swiss Franc bought 193.34 JPY at the official reference rate, so per unit the Swiss Franc is worth more. A higher unit value only reflects how each currency is denominated, not which one is gaining: over the past 12 months CHF strengthened by 1.7% against JPY, so on momentum the Swiss Franc (CHF) is the stronger of the two.
Adjusted for consumer-price inflation in both economies, CHF gained 1.6% in real terms against JPY over the same period.
CHF relative to JPY
Positive values mean CHF strengthened against JPY.
CHF vs JPY over the last three years
CHF against JPY, index 100 on November 6, 2023. A rising line means CHF gained on JPY. Dashed: the same, adjusted for consumer-price inflation in both economies. Green dot: 3-year high, red: 3-year low.
- 3-year high: 122.3 on April 21, 2026, when CHF was at its strongest against JPY in the period.
- 3-year low: 97.8 on December 14, 2023.
- Now: 115.9, 5.2% below the high and 18.5% above the low.
- Sharpest one-month move: CHF fell 6.8% against JPY between July 11, 2024 and August 5, 2024.
What moved CHF and JPY
- · 🇯🇵 US and Japan intervene to prop up yen — A rare joint intervention aims to halt the yen's slide as a carry-trade unwind rattles global markets
- · 🇯🇵 BoJ hikes to 1.00% — Bank of Japan raises its policy rate again, citing persistent inflation and yen weakness
- · 🇯🇵 Japan intervenes to defend yen — Japan's Ministry of Finance buys yen after it crosses 160 per dollar during Golden Week
- · 🇯🇵 Takaichi's LDP wins snap election — The LDP-JIP coalition wins a postwar-record majority after a snap election
- · 🇨🇭 US-Switzerland cut tariff to 15% — A new framework deal cuts the US tariff on Swiss goods from 39% to 15%
- · 🇯🇵 Takaichi wins LDP leadership — Sanae Takaichi becomes the LDP's first female leader; yen weakens on looser-policy bets
Major central-bank decisions, elections and shocks for the two currencies since November 6, 2023. The interactive chart marks them on the line.
Performance against 15 major currencies
| Currency | 12-month change vs basket | Rank |
|---|---|---|
| 🇨🇭 Swiss Franc (CHF) | -0.4% | #8 of 16 |
| 🇯🇵 Japanese Yen (JPY) | -2.1% | #10 of 16 |
Open the interactive CHF/JPY chart →
How this comparison works
Each currency's strength index starts at 100 and accumulates its daily change against 15 other major currencies (a geometric mean of pairwise exchange-rate moves), using European Central Bank reference rates and other official sources. The relative figures above divide CHF's index by JPY's, so they reflect the two currencies' performance against each other while accounting for the whole basket. The real variant additionally adjusts each currency for its domestic CPI inflation.
Read the full methodology →Frequently asked questions
Is CHF stronger than JPY right now?
It depends on the question. Per unit, 1 CHF = 193.34 JPY (reference rate, November 6, 2026), so the Swiss Franc is worth more. As for which one is gaining, over the past 12 months CHF strengthened by 1.7% against JPY, so on momentum the Swiss Franc (CHF) is the stronger of the two.
How do CHF and JPY perform against other major currencies?
Against a basket of 15 major currencies over the past 12 months, CHF ranks #8 of 16 (-0.4%) while JPY ranks #10 (-2.1%).
What does the CHF vs JPY strength comparison show?
Rather than a single exchange rate, this page compares how each currency performed against a basket of 15 major currencies, then derives their relative strength. It filters out moves caused by the other currency alone and shows who is truly stronger.
How often is the data updated?
Every trading day (Monday to Friday), after the European Central Bank publishes its reference rates, usually around 16:00 CET.