2023-12-29 09:02:23
SNB continued to sell foreign currencies on a large scale in the third quarter
The Swiss National Bank has slightly weakened its sales. It last purchased foreign currencies in the first quarter of 2022, but has sold it every quarter since then.
Selling foreign currencies again: In 2021, the SNB bought foreign currencies worth 21.1 billion francs, and in 2020 it was almost 110 billion francs.
Foto: Anthony Anex (Keystone)
The Swiss National Bank (SNB) once again sold foreign currencies on a larger scale in the third quarter of 2023. It has weakened its sales slightly. It last purchased foreign currencies in the first quarter of 2022, but has sold it every quarter since then.
From July to September 2023, the central bank sold foreign currency equivalent to 37.6 billion francs, according to SNB statistics published on Friday. In the second quarter, foreign exchange sales were 40.3 billion and in the first quarter they were 32.2 billion.
The SNB reported the first sales transactions in mid-2022. Before this point, it bought foreign currencies on a large scale in order to prevent the Swiss franc from rising too strongly. In 2021, foreign currencies worth 21.1 billion francs were purchased, and in 2020 it was almost 110 billion francs.
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