Swiss Central Bank Loses $22 Billion in 2010

January 15th, 2011
in News, Banking

Yahoo Business - Geneva:  Switzerland's central bank says it has lost 21 billion Swiss francs ($22 billion) in 2010 as the currency, considered by investors as a safe haven, rose strongly against the dollar and the euro.

Follow up:

The Swiss National Bank, which has repeatedly intervened to halt the Swiss franc from further rising against the euro, said losses stemming from its foreign currency dealings totaled 26 billion francs — a record loss only partly offset by the gains on its gold reserves.  Read more at Yahoo Finance.....

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