SNB maintains minimum exchange rate

swiss-national-bank-zurich

The Swiss National Bank (SNB) today (September 13) announced the decision to leave the minimum exchange rate of 1.20 Swiss francs per euro unchanged.

The central bank said the Swiss currency has not depreciated as expected, and the strength of the currency was "weighing heavily" on the economy. However, The SNB remained hopeful of depreciation against the euro, and said forecasts continued to project that the Swiss franc will weaken.

Since the exchange rate floor was introduced in September 2011

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