Swiss National Bank Eyes Currency Intervention

National Bank Says It Purchased $429 Million in Foreign Currency in February - Civil Georgia

The National Bank of Georgia (NBG) said it purchased USD 429.3 million on the Bmatch trading platform in February, bringing the country’s international reserves to USD 6.65 billion. The February figure follows net purchases of USD 86.6 million in January and reflects the NBG’s policy of building up foreign exchange reserves over the past year. The NBG reiterated that “international foreign exchange reserves are an important guarantee of a countr…

Swiss National Bank Eyes Currency Intervention

The Swiss National Bank (SNB) is increasingly prepared to intervene in foreign currency markets to mitigate appreciation pressure on the Swiss franc, according to SNB Chairman Martin Schlegel. Speaking at an event in Zurich, Schlegel noted the franc’s appeal as a safe-haven asset, particularly as geopolitical tensions rise in the Middle East. The SNB aims to maintain appropriate monetary conditions, using both its policy rate and foreign exchang…