| Figures suggest central bank intervened in currency markets as part of effort to bring down value of franc. The Swiss central bank’s foreign-currency reserves jumped in May, data showed Tuesday, suggesting that it intervened in currency markets last month in an effort to weaken the persistently strong franc.
The Swiss National Bank’s foreign-currency reserves rose to 602.1 billion Swiss francs ($620.34 billion) in May, from 587.9 billion francs in April, according to the SNB’s monthly report. The figures can fluctuate depending on changes in the franc’s exchange rate against other currencies such as the euro and dollar...............................................Full Article: Source
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