SNB reveals scale of latest foreign exchange purchases

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The Swiss National Bank (SNB) today (August 7) revealed the extent of the latest increase in the foreign currency reserves held by the central bank, accumulated due to the purchases made by the central bank in an attempt to prevent the appreciation of the Swiss franc.

The figures show that the central bank increased its reserves by Sfr41 billion ($42.4 billion) between June and July this year. The SNB now holds foreign exchange totalling Sfr406.5 billion, as part of overall reserves amounting to

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