SNB forex reserves rise in September, CHF in focus

Note: This section contains information in English only.
Source: Businessweek.com
© Scanpix/FP
The Swiss central bank's foreign currency reserves expanded to an all-time high in September amid continuing weight on the franc ceiling. Reserves advanced to 429.3 billion Francs ($460.5 billion), compared to 420.8 billion Francs in August, the Swiss National Bank reported on Friday.

Thomas Jordan, SNB President, has promised to impose the Franc ceiling of 1.20 per Euro enforced in September 2011 "with the utmost determination" as the Eurozone's crisis caused policy makers to gather record currency holdings.

The Franc was at 1.21145 against the Euro after the data came out. It also traded at 93.17 centimes versus the U.S. Dollar. The Franc has lost 0.9% against the Euro since the ECB announced on Aug.2 that it will purchase government notes together with the Europe's rescue fund.
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