SNB slowed foreign currency purchases to CHF1.2bn in 2024

The Swiss National Bank (SNB) was less active on the foreign exchange markets in 2024 than in previous years. + Get the most important news from Switzerland in your inbox In 2024, the Swiss central bank again acted as a buyer of foreign currencies, having sold holdings on a large scale in 2023. Over the year as a whole, foreign currency purchases totalled CHF1.2 billion, as can be seen in the SNB's annual report published on Tuesday. Purchases slowed down in the final quarter. From January to September 2024, the SNB purchased foreign currency totalling CHF1.1 billion, according to the quarterly figures already published, most of this in the third quarter. From seller to buyer In 2023, the SNB was still a large-scale seller of foreign currencies: In the year as a whole, it sold foreign currencies worth the equivalent of CHF132.9 billion. + Switzerland navigates own course through inflation maze By reducing its foreign currency reserves, the monetary authorities wanted to strengthen ...