The Swiss National Bank spent 17.8B Swiss francs ($19.56B) buying foreign currency last year as...
The Swiss National Bank spent 17.8B Swiss francs ($19.56B) buying foreign currency last year as it fought to combat the "massive overvaluation" of the franc and cap it at 1.20/euro. The SNB's credibility should be boosted after it said it swung to a net profit of 13.5B francs in 2011 from a record loss of 21B francs in 2010. (PR)
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