Economics
SNB's Foreign Currency Reserves Fell in May as Franc Gained
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The Swiss National Bank’s holdings of foreign currency dropped 1.6% in May, a month when the franc rallied against both the euro and the dollar.
The SNB’s pile of foreign exchange declined to 760 billion francs ($765 billion) last month from 772 billion francs in April, data published on its website on Friday showed. A spokesman for the SNB declined to comment.