World Trade
The first nine months of 2022 had a $142.6 billion loss for the Swiss National Bank.
According to data released on Monday, the Swiss National Bank lost 142.2 billion Swiss francs ($142.60 billion) in the first nine months of 2022 due to falling foreign investment values and rising interest rates.
The loss, which was the biggest in the SNB’s 115-year history, was somewhat higher ($132 billion) than Morocco’s annual economic output.
The bonds and stocks the SNB purchased as part of its effort to stop the safe-haven franc from appreciating lost value, resulting in a loss to the SNB of 141 billion francs from its foreign currency positions.
Related: The Swiss franc is not worth much, says SNB’s Jordan.
$1 is equal to 0.9972 Swiss francs.