The Swiss National Bank’s (SNB) interventions to weaken the Swiss franc have pushed up the central bank’s foreign exchange reserves significantly.
The foreign exchange reserves of the Swiss National Bank (SNB) rose significantly by CHF 36.46 billion in April. At the end of the reporting month, the value was CHF 799.86 billion, after CHF 763.41 billion at the end of March.
The total stock of reserves (excluding gold) reached 805.69 billion at the end of April after CHF 768.90 billion in the previous month, as the SNB announced on its website on Thursday. The data are compiled in accordance with the International Data Fund (IMF) standard for the dissemination of economic and financial data (Special Data Dissemination Standard, SDDS).
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It is difficult to tell from the figures whether and how much the SNB intervened on the foreign exchange market in April. The development of the most important foreign currencies against the Swiss franc is often the main reason for the changes.
According to SNB statistics, the euro depreciated to around CHF 1.0569 in April, compared to CHF 1.0588 at the end of March. During the same period, the US dollar rose to CHF 0.9712 from CHF 0.9641 previously.
Zurich (awp / sda / reu)
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