Navigation

Franc falls on talk of SNB euro target

The Swiss franc has fallen sharply following reports that the Swiss National Bank (SNB) is planning to set a temporary target range for the currency’s exchange rate with the euro.

This content was published on August 15, 2011 - 20:38
swissinfo.ch and agencies

The franc hit all-time highs against the euro and the dollar last week as investors sought safe assets amid market turmoil and fears about government debt.

The Swiss currency opened 2.9 per cent lower against the euro on Monday. The euro was worth 1.136 francs at close of buisiness, up from a record low of 1.007 francs last Tuesday. Meanwhile, the dollar was up 2.5 per cent at 0.7940 francs at close of business in Zurich.

Swiss media reported at the weekend that the SNB was planning further measures to weaken the overvalued franc.

This article was automatically imported from our old content management system. If you see any display errors, please let us know: community-feedback@swissinfo.ch

In compliance with the JTI standards

In compliance with the JTI standards

More: SWI swissinfo.ch certified by the Journalism Trust Initiative

Contributions under this article have been turned off. You can find an overview of ongoing debates with our journalists here. Please join us!

If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.

Share this story

Change your password

Do you really want to delete your profile?