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How the Swiss National Bank tried to keep the CHF from appreciating – and failed
According to preliminary data foreign currency reserves at the Swiss National Bank (SNB) in May went up to CHF 232bn from 153bn in April. Meaning they intervened with 4bn per work day in May, up from 1bn previously. And now they wasted half of GDP on potentially worthless currencies (Euros, Dollars). Why does the SNB…
Category: Currencies
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