How much did the SNB spend prevent the franc’s strength?
The Swiss National Bank (SNB) is one of the central banks famous of intervening in the currency market to prevent the franc from strengthening. So, how much did it spend last year to keep the franc’s value under control?
The SNB spent 67.1 billion francs on foreign currencies purchases last year, following a total of 86.1 billion francs spent in 2015. In 2012, the SNB bought foreign currencies worth 188 billion francs.
Despite the huge spending by the SNB, the graph shows that the franc strengthened against the euro by 1.42 percent throughout 2016.