SNB to open branch in Singapore

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The Swiss National Bank (SNB) today (December 18) announced plans to open a branch in Singapore, its first outside Switzerland.

The new branch will act as an Asian trading centre for the central bank, facilitating round the clock operations in the foreign exchange market, notably enforcing the minimum exchange rate, the central bank said.

A local presence will also enable the central bank to better manage its expanding portfolio of Asian currencies. In 2010 the SNB added Australian and Singapore

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