The Swiss National Bank posted losses for the first nine months of the year as a stronger Swiss franc and higher interest rates weighed on its investments in gold, currencies and capital markets.
Switzerland’s central bank posted a loss of 142.37 billion Swiss francs ($142.94 billion) in the first nine months of the year, it said in a statement on Monday. During the same period last year, the bank’s profit amounted to 41.43 billion Swiss francs.
The loss on foreign currency positions was 141 billion Swiss francs, while there was also a loss on the valuation of gold of 1.1 billion Swiss francs.
“The financial result of the National Bank of Ukraine largely depends on the development of the situation on the gold, currency and capital markets,” the central bank noted. “This means that extreme fluctuations cannot be ruled out,” the report said.
Email Xavier Fontdegloria at xavier.fontdegloria@wsj.com
This article is first published on Source link
