Swiss National Bank posts profit in first half of year

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The Swiss National Bank (SNB) today (July 31) released figures that showed the central bank made a profit of Sfr6.5 billion ($6.65 billion) in the first half of 2012.

The majority of the gains came from holdings of foreign currency, which accounted for 5.1 billion francs of the total. The SNB said it had purchased Sfr108 billion of foreign currency since the beginning of the year. "A large part of this increase is due to foreign currency purchases made during the second quarter to enforce the

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