Thursday , October 29 2020
Home / SNB & CHF / Swiss National Bank intervenes heavily to weaken Swiss franc

Swiss National Bank intervenes heavily to weaken Swiss franc

Summary:
© Michael Müller | Dreamstime.com Official data recently released by the Swiss National Bank (SNB) show it sold 51.5 billion Swiss francs while acquiring US dollar and euro-denominated assets in a bid to weaken the franc over the first quarter of 2020. The data followed comments by SNB President Thomas Jordan signalling that even larger ...

Topics:
Investec considers the following as important: , ,

This could be interesting, too:

FINMA: News writes FINMA-Aufsichtsmitteilung 08/2020: LIBOR-Ablösung im Derivatebereich

FINMA: News writes Aktualisierte Sanktionsmeldung

Swiss National Bank writes Central banks and BIS publish first central bank digital currency (CBDC) report laying out key requirements

Matthew Allen writes How much blockchain does the financial world need?

Swiss National Bank intervenes heavily to weaken Swiss franc

© Michael Müller | Dreamstime.com

Official data recently released by the Swiss National Bank (SNB) show it sold 51.5 billion Swiss francs while acquiring US dollar and euro-denominated assets in a bid to weaken the franc over the first quarter of 2020.

The data followed comments by SNB President Thomas Jordan signalling that even larger interventions may be on the cards in the future.

Switzerland’s long-running battle with its overvalued currency has drawn criticism from the US.

In January 2020, the US Treasury added Switzerland to its “monitoring list”. Those on the list are trading partners whose currency practices merit close attention. It is no secret that the SNB has been actively trying to weaken the Swiss franc, which is widely considered overvalued.

The SNB has long argued that controlling the franc’s appreciation is critical to the health of Switzerland’s large export-oriented manufacturing industry.


Tags: ,
About Investec
Investec
Investec is a distinctive Specialist Bank and Asset Manager, providing a diverse range of financial products and services to a niche client base.

Leave a Reply

Your email address will not be published. Required fields are marked *