January 06, 2014 BY Gerald Segal
Swiss National Bank to report 9 CHF billion loss on FX reserves for 2013
The sharp drop in gold prices is to blame for the underperformance of the bank’s FX portfolio last year The Swiss National Bank (SNB) has released a press release detailing that preliminary calculations are pointing to a massive loss on its FX reserves portfolio in 2013. The result comes as the bank has lost close to CHF…
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