Swiss central bank opens office in Singapore

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ZURICH, SWITZERLAND – The Swiss National Bank will open an Asian office in Singapore in mid-2013, with a staff of seven, it said Tuesday 18 December. It is the central bank’s first office outside the country, although several other national banks have foreign regional offices. The new office will allow it to more efficiently manage […]

Swiss currency reserves falling: what it means

The meaning of the Swiss National Day - Photo Ellen Wallace

ZURICH, SWITZERLAND – Swiss holdings of foreign currencies fell this week for the first time in months, slightly easing pressure on the Swiss central bank, which has added staff in recent months, in risk management and asset management, to handle the huge volume of foreign currencies it now holds. The SNB has been under close […]

Dollar and sterling happier, euro glum: SNB exchange rate data for 1 June

ZURICH, SWITZERLAND – The Swiss National Bank’s exchange rate tables for the past 16 months, updated 1 June, show the dollar bouncing back in May to the level it was at in December and January, in interbank trade, at CHF0.9377. The dollar remained below CHF0.93 during most of 2011. The euro’s slide is clearly laid […]

Central banks, including SNB, join forces to “ease strain on financial markets”

BERN, SWITZERLAND – The Swiss National Bank (SNB) WEdnesday 30 November joined with other major central banks for a series of “coordinated actions to enhance their capacity to provide liquidity support to the global financial system. The purpose of these actions is to ease strains in financial markets and thereby mitigate the effects of such […]

Swiss central bank lays out exchange rates for past year

ZURICH, SWITZERLAND – The Swiss National Bank 3 October published a table of the path the Swiss franc has taken against several key currencies since July 2010, showing clearly its dramatic rise. Against the euro, the rate has shifted from CHF1.3471 to CHF1.20 in 15 months and against sterling from CHF1.6111 to CHF1.3768. The dollar […]

Swiss franc fallout: Coop, Denners cut some brands, yo-yo rates rule

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ZURICH, SWITZERLAND – The Swiss franc was traded Monday in ranges of $1.2505-1.2867 and €.8734-.9025, according to Reuters, with the franc weakening early in the day after last week’s climb, thanks largely to the Swiss National Bank’s insistence that it will intervene if the safe haven impact on the franc’s position does not end. But […]

Central bankers start to talk about franc-euro peg, franc nosedives

ZURICH, SWITZERLAND – The Swiss franc lost 4 percent Thursday against major currencies, in the wake of remarks by central bankers that it could be pegged to the euro, according to Daily Markets. Reuters at 16:30 Swiss time shows the franc trading at euro 1.0872, compared to 1.03 a day earlier at market closing. It […]

London riots almost overshadow world markets

GENEVA, SWITZERLAND – The spread of London’s riots to more parts of the city and to other cities is the headline news Tuesday 9 August, not just in the UK but in most English-speaking countries, overtaking news of stock markets diving and the continuing fall of the dollar and the euro in currency markets. London’s […]

Greece causes some worries (Chappatte cartoon)

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©2011 Chappatte, distributed by Globe Cartoon. More cartoons on Chappatte’s web site. Geneva-based Patrick Chappatte works for the International Herald Tribune, for Geneva newspaper Le Temps, and for NZZ am Sonntag. All cartoons reproduced with permission.

Swiss franc nears dollar parity, euro picks up

Zurich, Switzerland (GenevaLunch) – The Swiss franc is at near parity with the US dollar following stronger than expected GDP results. The euro, which in the past week has sunk to record lows against the franc, was boosted by remarks by European Central Bank President Jean-Claude Trichet to the effect he does not expect a […]