Central Banks
SNB Sells 739 Million Francs of Currency After Decade of Buying
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The Swiss National Bank made its first significant reduction of other currencies in more than a decade to shore up the franc as a firewall against imported inflation.
The central bank cut its holdings of other foreign exchange by 739 million francs ($800 million) in the third quarter, following a 5 million-franc drop in the previous three-month period.