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Swiss National Bank cuts foreign currency purchases in 2024

Published 18/03/2025, 08:38
© Reuters.
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Investing.com -- The Swiss National Bank (SNB) has announced on Tuesday a significant reduction in its foreign currency purchases for the year 2024.

The central bank reported that it bought foreign currency worth 1.2 billion Swiss francs ($1.36 billion) in 2024, a stark contrast to the previous year’s figures.

In 2023, the SNB sold 132.9 billion Swiss francs worth of foreign currencies.

The SNB’s actions over the past few years have seen a shift from selling foreign currency in 2022 and 2023 to tighten monetary conditions, to a reduced emphasis on foreign currency transactions in 2024.

This change in strategy reflects the bank’s evolving approach to managing monetary conditions and maintaining economic stability.

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