Reported 9 months ago
The Swiss National Bank refrained from intervening in the currency market during the first quarter as the Swiss franc weakened against the dollar and the euro. The central bank's decision to hold off on interventions, only purchasing 281 million francs in currencies, indicated a lack of need to manipulate the franc's value and showed satisfaction with its depreciation. This shift comes after the SNB had previously boosted the exchange rate by selling foreign reserves and buying its own currency to protect the Swiss economy, but now appears content with the franc's decline against major currencies like the dollar and the euro.
Source: YAHOO