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SNB forex reserves rise to 441.4 bln Sfr in May
June 7, 2013 / 7:06 AM / 4 years ago

SNB forex reserves rise to 441.4 bln Sfr in May

ZURICH, June 7 (Reuters) - The Swiss National Bank’s foreign exchange reserves rose in May, data showed on Friday.

The SNB held 441.410 billion Swiss francs in foreign currency at the end of May, compared with 436.101 billion in April, revised from an originally reported 433.645 billion, preliminary data calculated according to the standards of the International Monetary Fund showed.

The SNB capped the soaring franc in September 2011 to help stave off recession and the threat of deflation and was forced to intervene heavily in 2012 as the euro zone crisis flared, swelling its already large foreign currency reserves.

Reporting by Caroline Copley.

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