SNB achieved record profits in 2017
Acquisitions of euros and dollars via foreign exchange interventions yielded 91% of the gains; SNB reshapes portfolio with greater share of equities and riskier bonds
The Swiss National Bank (SNB) recorded the highest profits of its history in 2017 on its interventions in foreign exchange markets and the depreciation of the franc, the annual report of the central bank says.
The SNB reported a profit of Sfr54.4 billion ($57 billion), up from Sfr24 billion in 2016. The main contributing factor was the profits yielded by the foreign currency positions of the central bank, which reached Sfr49.7 billion. The acquisition of euros and dollars is one of the two main
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