Swiss franc against US dollar. (Source: LSEG)
All eyes are on gold prices and U.S. tariffs to gauge what Rolex may do on Jan. 1, when it is expected to update its global price lists. Yet the rise of the Swiss franc, an often overlooked factor, may prove as important for 2026 pricing across the collection, not just for gold models.
Over the past 12 months, the franc has gained about 14% against the U.S. dollar, a sign that the Swiss currency, like gold, serves as a safe haven in times of economic uncertainty. But in a bit of good news amid the tariff stalemate, a new agreement between Switzerland and the U.S. Treasury gives the Swiss National Bank greater freedom to curb the currency’s rise, which hurts exports.
The Swiss National Bank has recently purchased five billion francs of foreign currencies to weaken the franc and with this new agreement is expected to do more. Still, for Rolex, the currency’s strength, along with record gold prices and high tariffs, makes a January price increase all but inevitable. And with each rise, Rolex availability at U.S. boutiques moves one step closer to returning to normal levels.