ISSN 2330-717X

Swiss Franc Falls On Talk Of National Bank Euro Target

By

The Swiss franc has fallen sharply following reports that the Swiss National Bank (SNB) is planning to set a temporary target range for the currency’s exchange rate with the euro.

The franc hit all-time highs against the euro and the dollar last week as investors sought safe assets amid market turmoil and fears about government debt.

Swiss Franc
Swiss Franc

The Swiss currency opened 2.9 per cent lower against the euro on Monday. The euro was worth 1.136 francs at close of buisiness, up from a record low of 1.007 francs last Tuesday. Meanwhile, the dollar was up 2.5 per cent at 0.7940 francs at close of business in Zurich.

Swiss media reported at the weekend that the SNB was planning further measures to weaken the overvalued franc.

SwissInfo

SwissInfo

swissinfo is an enterprise of the Swiss Broadcasting Corporation (SBC). Its role is to inform Swiss living abroad about events in their homeland and to raise awareness of Switzerland in other countries. swissinfo achieves this through its nine-language internet news and information platform.

Leave a Reply

Your email address will not be published.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

This site uses Akismet to reduce spam. Learn how your comment data is processed.