SNB purchased forex worth CHF 1.2 billion in 2024

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SNB purchased forex worth CHF 1.2 billion in 2024

That's mostly down to the effectiveness in combating inflation. For some context, the SNB sold CHF 132.9 billion worth of forex in 2023. That was largely to boost the franc to counteract imported inflation. So, the overall 2024 position has been the opposite story in a sense.

Interestingly, the SNB is not one to have increased their gold holdings. That stood at 1,040 tonnes and was the same in 2023. However, the value of that has risen quite dramatically to CHF 79.0 billion - up from CHF 57.8 billion in 2023.

                            This article was written by Justin Low at www.forexlive.com.

Source: SNB purchased forex worth CHF 1.2 billion in 2024

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