Wed, 07 Nov 2012 16:12:10 GMT
Swiss forex reserves drop on eurozone convulsion
In October, Swiss
foreign exchange reserves tumbled for the first time after 8 months and price pressures
held low allowing the bank to put more control on the franc. The Swiss National Bank kept 424.38 billion francs
of currency holdings this month that was lower than the 429.48 billion francs reserved
in September. Although the debt turmoil
in the euro-area induced Switzerland to intervene, a