SNB posts record loss in first quarter

Swiss National Bank headquarters in Bern
Swiss National Bank

The Swiss National Bank (SNB) reported its biggest quarterly loss to date in the first three months of 2015, as the strong franc weighed on the value of its euro reserves, following its decision to drop the minimum exchange rate of 1.20 against the euro on January 15, after more than three years.

The reported total loss is CHF 30 billion ($31.9 billion), with the loss on foreign currency positions amounting to CHF 29.3 billion and a valuation loss of CHF 1 billion on the central bank's gold

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