Economics
SNB Earns $16.5 Billion Profit on Gold, Currency Reserves
- Earnings have no bearing on Switzerland’s monetary policy
- SNB had 20% of its currency reserves invested in stocks in 3Q
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The Swiss National Bank earned a profit of 15.1 billion francs ($16.5 billion) for the first nine months of the year, helped by gains on its foreign currency positions, which includes equities, and gold holdings.
Although it suffered a loss of more than 22 billion francs in exchange-rate related losses, interest and dividend income plus rising stock prices helped to offset that hit, according to a release on Friday.