Swiss National Bank posts loss of $142.6 billion in first nine months of 2022
2022.10.31 02:46
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© Reuters. FILE PHOTO: The Swiss National Bank (SNB) is pictured during a federal council meeting in Bern, Switzerland, March 13, 2020. REUTERS/Denis Balibouse/File Photo/File Photo
ZURICH (Reuters) – The Swiss National Bank lost 142.2 billion Swiss francs ($142.60 billion) in the first nine months of 2022, it said on Monday, as rising interest rates and the stronger Swiss franc slashed the value of the central bank’s foreign investments.
The loss – the largest in the SNB’s 115-year history – was slightly more than the annual economic output of Morocco ($132 billion).
The SNB made a loss of 141 billion francs from its foreign-currency positions as the bonds and stocks bought during its campaign to stem the appreciation of the safe-haven franc slid in value.
($1 = 0.9972 Swiss francs)
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