Some items on SRF.ch only work with JavaScript activated.
- The Swiss National Bank (SNB) slightly reduced its foreign exchange sales in the third quarter of 2023.
- From July to September, the central bank sold foreign currencies worth 37.63 billion francs.
- It last bought foreign currencies in the first quarter of 2022, but has sold them every quarter since then.
In the second quarter, foreign exchange sales amounted to 40.3 billion francs, and in the first quarter, 32.2 billion francs. This emerges from statistics published by the Swiss Central Bank.
The Swiss National Bank announced the first sales transactions in mid-2022. Before this point, it had purchased foreign currencies on a large scale in order to prevent the Swiss franc from rising strongly. In 2021, for example, foreign currencies worth 21.1 billion francs were purchased, and in 2020 they amounted to approximately 110 billion francs.
Sales are no longer a priority
Since 2022, after the paradigm shift, the focus has been on FX sales. The Swiss Central Bank used this tool to combat inflation because foreign currency sales tend to lead to a strengthening of the franc. Because as the value of the franc rises, less inflation is imported from abroad.
In light of the decline in inflationary pressures, the central bank left its key interest rate unchanged at 1.75 percent for the second time in a row at its interest rate meeting in mid-December and signaled a possible change in monetary policy. As a result, monetary authorities also said goodbye to further foreign currency sales.
SRF News 4, December 29, 2023, 10:00 am; agencies/construction;kobt
Always well informed!
Get all the news highlights directly via browser push and always stay up to date.
Close
Always well informed!
Get all the news highlights directly via browser push and always stay up to date.
Push notifications
I have already hidden this notification about browser notifications activation several times. Do you want to hide this notification permanently or be reminded of it again in a few weeks?
Scroll left
Scroll to the right
“Tv expert. Hardcore creator. Extreme music fan. Lifelong twitter geek. Certified travel enthusiast. Baconaholic. Pop culture nerd. Reader. Freelance student.”
Social login
To register we need additional information about you.
{* #socialRegistrationForm *} {* First Name *} {* Last Name *} {* Email Address *} {* Display Name *} {* Mobile *} {* City Address *}
{*/socialRegistrationForm *}