Top Stories
Swiss forex reserves down in September
Global Banking & Finance Review®
Company
(Reuters) – The Swiss National Bank’s foreign exchange reserves fell in September, data showed on Friday.
(Reuters) – The Swiss National Bank’s foreign exchange reserves fell in September, data showed on Friday.
The SNB held 807.130 billion Swiss francs ($815.04 billion) in foreign currency at the end of September, compared with 859.340 billion francs in August, revised from an originally reported 859.639 billion, preliminary data calculated according to the standards of the International Monetary Fund showed.
($1 = 0.9903 Swiss francs)
(Reporting by Tristan Chabba)
Foreign exchange reserves are assets held by a central bank in foreign currencies, used to back liabilities and influence monetary policy.
The Swiss National Bank (SNB) is the central bank of Switzerland, responsible for the country's monetary policy and managing its currency reserves.
A central bank is a financial institution that manages a country's currency, money supply, and interest rates, often overseeing the banking system.
Currency reserves are crucial for maintaining a country's financial stability, enabling it to manage exchange rates and meet international payment obligations.
Explore more articles in the Top Stories category
