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<FX> Report: Swiss Central Bank Reduced Foreign Exchange Holdings by USD7.5 Million in 4Q Last Year, Possibly Strengthening Swiss Franc
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Bloomberg reported, citing data from the Swiss Central Bank, that the bank's foreign currency holdings decreased by 6 million Swiss francs, equivalent to approximately USD7.5 million, in the fourth quarter of last year. This move aimed to slightly reduce the size of its balance sheet but also faced the risk of strengthening the Swiss franc exchange rate. The report noted that as investors sought safe havens to cope with the aftermath of the Iran war, the Swiss franc surged to a 10-year high this month. The Swiss Central Bank immediately signaled its firm determination to curb excessive currency appreciation through intervention measures. (ss/da) Auto-translated by third-party software This translation was auto-generated by third-party software. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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