Economics
SNB Interventions Boost Currency Reserves to Record High
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The Swiss National Bank’s foreign-currency reserves hit a record in December after an appreciation of the franc forced the institution to end a two-year hiatus in interventions.
Holdings increased to 495.1 billion francs ($490 billion) from a revised 462.7 billion francs in November, the central bank based in Zurich and Bern said on its website today. The holdings are calculated according to International Monetary Fund standards at the beginning of every month.