Record-high FX reserves prompt new questions for SNB
Reserves reach $734 billion as Swiss franc depreciates against euro
Switzerland’s foreign currency reserves have climbed again, reaching a new record high of SFr714.3 billion ($734 billion), in July, the Swiss National Bank (SNB) announced on August 7. Swiss forex reserves now represent 108% of national GDP.
The latest increase is the result of the appreciation of its euro-denominated assets – some 40% of the total, an SNB spokesman said.
“The danger of a large exposure to the euro is that if the currency falls the SNB would see its reserves dwindle, and that
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