Currency Surcharge Switzerland – Monthly Floating

Since the Swiss National Bank SNB lifted the minimum exchange rate of CHF 1.20 per euro in January 2015, the euro (EUR) to Swiss Franc (CHF) exchange rate has been subject to considerable fluctuations. This represents an increasingly incalculable cost factor for the services provided by DB Schenker in Switzerland. These currency costs, which are beyond our control, must be compensated in the form of a variable currency surcharge.

In April 2015, Schenker Deutschland AG therefore introduced for the first time a variable methodology for determining a separate currency surcharge for general cargo shipments to and from Switzerland.

The monthly floating currency surcharge Switzerland* on the door-to-door rates in system freight transport can be seen in the following table:

Historical development of the currency surcharge at Schenker Deutschland AG:

Mathematical derivation:

The surcharge results from the proportionate increase in value-added costs that have to be provided in Switzerland and therefore remunerated in Swiss francs.

Schenker Deutschland AG calculates the currency surcharge on the basis of the average Euro/Swiss Franc exchange rate for a defined period. This is based on the effective date of the current currency surcharge - from the 16th day of the month before last to the 15th day of the preceding month.**

An example: The currency surcharge in April 2015 is based on the mean value of the exchange rate from February 16 to March 15, 2015.

What does that exactly mean?

If the exchange rate between the Euro and the Swiss Franc increases, you as a DB Schenker customer will automatically benefit. In return, the currency surcharge increases if the exchange rate drops significantly. The currency surcharge is adjusted monthly to the real situation.

* The currency floating model shown here also applies to shipments to and from Liechtenstein, which also has the Swiss Franc as its official currency.

** The official EUR-CHF exchange rate of the European Central Bank (ECB) serves as the source. The link to the ECB can be found here.