Foreign exchange purchases by the SNB are dried up

The Swiss national Bank (SNB) had to intervene in the past year, only to a limited extent in the currency markets. Overall, she has bought in 2018 foreign exchange for 2.3 billion Swiss francs. In the previous year, they had invested almost 50 billion in foreign currency purchases.

This is found in the on Thursday accessed the annual report in 2018. The willingness to interventions in the foreign exchange market was emphasized by the SNB, but also in the past year and was in addition to the negative interest rate the second measure, the national Bank for "appropriate monetary conditions". In practice, this means that the monetary authorities keep the value of the Swiss franc in check, or a strong appreciation prevent.

2015 over 80 billion

In their media releases on the quarterly assessment, the SNB reaffirmed their intervention readiness and underscore both the high valuation of the Swiss franc as well as the fragility of the situation on the foreign exchange market.

especially in the years from 2015 to 2017, and after the abolition of the minimum Euro exchange rate (15.1.2015) had to intervene, the SNB is known to have a high Mass, in order to weaken the franc and protect the export economy from a too-high Swiss franc. So, the SNB 2015 86,1 billion, 2016 for 67,1 billion, and in 2017 had bought for 48.2 billion Swiss francs of foreign exchange. But even in 2014, so in the year prior to the abolition of the minimum exchange rate, had you purchased foreign currency in the amount of 25,8 billion. (Dec/sda)

Created: 21.03.2019, 11:47 PM