SNB plans renminbi purchases in 2015
Central bank to add renminbi to reserves
The Swiss National Bank (SNB) will add renminbi bonds to its foreign exchange reserves this year after striking a swap agreement with the People's Bank of China in 2014.
The central bank's annual report for 2014 said the agreement opened the door to the SNB purchasing around two billion Swiss francs ($2.1bn) worth of renminbi bonds. "Such investments are planned for 2015," the report said.
The reserves broadly stayed steady in 2014. Euro assets continued to dominate the foreign portfolio
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