Sunday, March 16, 2025 | 08:37 AM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

Swiss central bank intervenes to stabilise franc after Brexit

As a result of the vote became clear, the Swiss franc strengthened considerably against the Euro

Swiss central bank intervenes to stabilise franc after Brexit

AFPPTI Zurich
Switzerland's central bank on Friday said it had intervened in the foreign exchange market to stabilise the Swiss franc, considered a safe haven currency, following the Brexit vote.

"Following the United Kingdom's vote to leave the European Union, the Swiss franc came under upward pressure," banks said in a statement, adding that it had intervened in the foreign exchange market to stabilise the situation and will remain active in that market.

As a result of the vote became clear, the Swiss franc strengthened considerably against the Euro, trading at just 1.06 francs to the euro at 7:00 am (0500 GMT) compared to 1.10 francs to the euro seven hours earlier.

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jun 24 2016 | 3:29 PM IST

Explore News