Swiss current account surplus widens, SNB slows forex action

ZURICH -Switzerland’s first-quarter current account surplus widened to 19 billion Swiss francs ($19.63 billion), 4 billion francs more than in the same quarter in 2021, the Swiss National Bank (SNB) said on Wednesday.

“The increase was primarily due to the higher receipts surplus in goods trade (up CHF 6 billion), which resulted from merchanting (higher receipts surplus) and non-monetary gold trading (lower expenses surplus). The receipts surplus in traditional goods trade (foreign trade total) declined,” it said on its website.

The SNB acquired 3.24 billion francs in reserve assets during the quarter as part of its campaign to slow the strengthening of the Swiss franc.

The amount was significantly down from the 23.56 billion francs the central bank bought in the previous quarter, indicating the SNB was more relaxed about the franc’s strengthening between January and March this year.

SNB Chairman Thomas Jordan last week said he thought the franc was no longer highly valued, citing higher inflation in other countries.

Still the SNB would intervene in the currency markets if there was to be an “excessive” appreciation of the franc, Jordan said, while the bank would also sell foreign currencies if the franc were to weaken.

The data on Wednesday showed how the SNB‘s foreign currency investments have been hit by the turbulence upending markets stock and bond markets so far this year.

The SNB‘s securities portfolio suffered a valuation loss of 37 billion francs during the quarter, reducing the value of the shares and bonds it owns to 810 billion francs.

The central bank’s gold holdings meanwhile increased in value by 4 billion francs to 60 billion francs.

($1 = 0.9677 Swiss francs)

News Related


How lifestyle changes and food modification help to cure fatty liver

Representational image. News18 Non-alcoholic fatty liver disease has become one of the leading causes of chronic liver disease. It is mainly a lifestyle-related disease with a sedentary lifestyle being a ... Read more »

Udaipur murder: CM Ashok Gehlot to meet Kanhaiya Lal's family

Rajasthan Chief Minister Ashok Gehlot. News18 Udaipur: Rajasthan Chief Minister Ashok Gehlot will meet family members of Kanhaiya Lal, who was brutally murdered in Udaipur on Tuesday, even as the ... Read more »

Malaysia Open: PV Sindhu, HS Prannoy advance to quarterfinals

File photo of PV Sindhu. AFP Kuala Lumpur: Two-time Olympic medallist PV Sindhu entered the quarterfinals with a come-from-behind victory over Thailand’s Phittayaporn Chaiwan in the Malaysia Open here on ... Read more »

India sees 29% rise in new COVID-19 cases; 18,819 test positive, 39 dead in last 24 hours

A healthcare worker collects a nasal swab sample of a woman for COVID-19 testing. ANI India logged 18,819 new COVID-19 cases and 39 deaths in the last 24 hours, the ... Read more »

Data story: India reports 18,819 new cases, active tally crosses 100,000

The count of active cases across India on June 30 saw an increase of 4,953, compared with 2,902 on June 29 India reported an increase of 4,953 in active coronavirus ... Read more »

Alt News co-founder Mohmmed Zubair flown to Bangalore to recover laptop

Mohammed Zubair The Special Cell of Delhi Police on Thursday flew Alt News co-founder Mohammed Zubair to Bengaluru to recover his laptop which he used for uploading various contents on ... Read more »

Not-for-profit supermarket slashes grocery costs in the Pilbara

In a remote town in Western Australia, a not-for-profit supermarket in the Pilbara town of Roebourne has changed the way residents access food. Key points: The supermarket is helping locals access good ... Read more »

Prince Charles had ‘very emotional’ first meeting with granddaughter Lilibet

A senior royal source said it was ‘very emotional, a very, very wonderful thing’ for Charles to meet Lili (Picture: Getty/PA) Prince Charles had a ‘very emotional’ first meeting with ... Read more »

Ousted San Francisco DA Chesa Boudin won’t rule out running again

Former San Francisco District Attorney Chesa Boudin wouldn’t rule out running for the position again. Getty Images Ousted San Francisco District Attorney Chesa Boudin said he won’t rule out running ... Read more »

Τετ α τετ Αναστασιάδη-Ερντογάν στη Μαδρίτη: Ετοιμότητα για επανάληψη διαπραγματεύσεων στο κυπριακό

Στις εργασίες του ευρωατλαντικού δείπνου εργασίας που φιλοξένησε στη Μαδρίτη ο πρωθυπουργός της Ισπανίας Πέδρο Σάντσεθ συμμετείχε ο πρόεδρος της Κυπριακής Δημοκρατίας Νίκος Αναστασιάδης. Ο Πρόεδρος Αναστασιάδης είχε την ευκαιρία ... Read more »

Escorts Kubota slips to a 9-mth low, down 27% from record high hit in April

Escorts-tractor Shares of Escorts Kubota hit a nine-month low of Rs 1,422, down nearly 4 per cent on the BSE in Thursday’s intra-day trade amid concerns over delay in near-term ... Read more »

Top 5 factors that may set market direction in the second half of 2022

Illustration: Binay Sinha As equity markets complete the first half of the calendar year 2022 (CY22) with a fall of around 9 per cent, interest rate hike trajectory by global ... Read more »

Shohei Ohtani strikes out 11 as Angels defeat White Sox

Shohei Ohtani’s presence on the mound almost certainly means something incredible will happen for the Angels. Through his 11-strikeout performance Wednesday, he delivered another dominant start for the team in ... Read more »

Has Love Island’s slow fashion approach inspired us to shop sustainably – or could they have done more?

Love Island made the switch from fast fashion to slow, but have you? (Pictures: ITV / Rex / Getty) Love Island has switched from promoting fast fashion brands to a ... Read more »

Corina’s sustainable clothing range shares Indigenous culture with the world

A small popup in North Melbourne showcases the work of Indigenous artists and designers. It’s a collaboration led by Yorta Yorta and Boonwurrung woman Corina Muir, an emerging name in ... Read more »

'Exercise a high degree of caution': Australia upgrades UK travel safety advice over terrorism fears

Terrorism fears have led Australia to upgrade its safety advice for those planning a trip to the UK.The federal government's SmartTraveller website said it had reviewed advice for travellers to ... Read more »

In China, More and More People Want to Save as Job Worries Grow

Rather than spend or invest, 58.3% of survey respondents said they preferred to save their money, according to a People’s Bank of China second quarter report. That’s a jump from ... Read more »

Japan power plant shutdown raises fear of shortage in sweltering heat

Temperatures this month have been the highest since record-keeping began in 1875. Read more »

Salt City, The Broken News, Udan Patolas, She season 2: Best streaming picks from June

Applause Entertainment’s Salt City on SonyLIV is a revelation. How simply wonderful to sit through an uncluttered neatly arranged nimbly knitted unhurried slow-burn series which tells it like it is. ... Read more »

NASA to reveal deepest image ever taken of Universe

WASHINGTON, D.C.: NASA administrator Bill Nelson said on Wednesday the agency will reveal the “deepest image of our Universe that has ever been taken” on July 12, thanks to the ... Read more »

Mets’ Taijuan Walker dominates with help of Luis Guillorme’s defense

Buck Showalter denied intentionally surrounding Taijuan Walker on Wednesday afternoon with what probably projects to be the Mets’ best defensive infield. Luis Guillorme was at third base over Eduardo Escobar, ... Read more »

Eamonn Holmes says doctors U-turned on spinal surgery when he was in operating theatre

jQuery(function(){ if (typeof jwplayer_load == typeof indefined) { var jwplayer_load = 1; jQuery(window).load(function(){ jQuery(".sc_video_shortcode_jwplayer").each(function(){ var _this = $(this); jQuery.get(jQuery(this).attr("url"), function(data, status){ if (typeof data.split("\n") !== typeof undefined) { var src ... Read more »

Transfer news LIVE: Man Utd in Arsenal battle for Martinez, De Jong blow as Lukaku leaves Chelsea

jQuery(function(){ if (typeof jwplayer_load == typeof indefined) { var jwplayer_load = 1; jQuery(window).load(function(){ jQuery(".sc_video_shortcode_jwplayer").each(function(){ var _this = $(this); jQuery.get(jQuery(this).attr("url"), function(data, status){ if (typeof data.split("\n") !== typeof undefined) { var src ... Read more »

AquaExchange raises $3 mn from Endiya Partners, Accion Venture Lab

AquaExchange, India’s shrimp trading platform, has raised $3 million in pre-Series A funding from Endiya Partners and Accion Venture Lab AquaExchange, India’s shrimp trading platform, has raised $3 million in ... Read more »

CRISIL upgrades IOB's Basel III compliant tier II bonds from 'A+' to 'AA-'

ALSO READ IOB Q4 net up by 58% to Rs 552 cr on lower bad loan provisioning IOB Q3 net profit goes up by 113% as provisions decline sharply IOB ... Read more »

Wimbledon 2022: day four order of play, draw, schedule – Coco Gauff, Rafael Nadal and Katie Boulter start time

The eyes of the sporting world will be focused on Wimbledon again today, as the calendar’s most famous grass court tennis tournament continues. A glittering array of stars have descended ... Read more »

Katunga mother Amberly Hendy spared jail over crash that killed two people and injured her daughter

A Katunga mother has avoided jail over a crash in northern Victoria that killed her sister, her sister's boyfriend, and severely injured her daughter. Key points: Amberly Hendy pleaded guilty ... Read more »

R Kelly sentenced to 30 years in sex trafficking, racketeering charges

R Kelly R&B star R Kelly was sentenced to 30 years in prison Wednesday for using his superstardom to subject young fans some just children to systematic sexual abuse. The ... Read more »

Ucrânia e Rússia fazem maior troca de prisioneiros desde o início da guerra

A Ucrânia conseguiu repatriar 144 soldados em troca de 144 militares russos. É a maior troca de prisioneiros entre os dois países, desde o início da guerra. Zelenskyy e a ... Read more »

Apple Watch 8 — this is what it needs for me to upgrade

The rumored Apple Watch 8 rugged edition could win me over Read more »

Hutchinson Testimony Gets the ‘Body Language Expert’ Treatment on Newsmax

© Provided by The Daily Beast Newsmax Conservative media figures have been working overtime to discredit the bombshell testimony of Cassidy Hutchinson, the former aide of Mark Meadows who told ... Read more »

Queen Elizabeth news: Prince Harry & Meghan SPOTTED with Oprah Winfrey sparking fears of ANOTHER bombshell interview

PRINCE Charles and Camilla were “absolutely thrilled” during their meeting meeting with Prince Harry and Meghan Markle when they returned to the UK, a royal source says. The heir and wife ... Read more »

Επίσημο αίτημα της Ελλάδας σε ΗΠΑ για αγορά F-35

Υπογράφηκε το απόγευμα της Τετάρτης το επίσημο ελληνικό αίτημα προς τις ΗΠΑ για απόκτηση των μαχητικών αεροσοκαφών F-35. Η Ελλάδα ζητά να δεσμευτούν 20 αεροσκάφη F-35, όπως είχε προαναγγείλει και ... Read more »

Prestation de serment du nouveau président philippin Ferdinand Marcos Jr.

Le fils de l’ancien dictateur philippin Ferdinand Marcos a prêté serment jeudi en tant que président, concrétisant plusieurs décennies d’efforts de sa famille pour se rétablir à a tête du ... Read more »

Boris Johnson news – live: PM rules out early election amid sinking poll numbers

LIVE – Updated at 06:04 Prime minister Boris Johnson has ruled out calling an early general election, amid polls showing dwindling support for the Conservative Party. An exclusive poll for ... Read more »

Alex Scott surprises in blazer mini dress - and the most daring platform heels

Alex Scott, 37, has just wowed fans with a style makeover. The vibrant, V-neck look is not what we were expecting, but it works – and wait until you see ... Read more »

NSW woman Wendie-Sue Dent found guilty of poisoning partner in murder retrial

New South Wales woman Wendie-Sue Dent has again been found guilty of the poisoning murder of her Adelaide partner in 2015. The Supreme Court has previously heard the 64-year-old poisoned David ... Read more »

RJD becomes largest party in Bihar: The implications for the ruling JD(U)-BJP alliance and state politics, explained

© Provided by Firstpost RJD becomes largest party in Bihar: The implications for the ruling JD(U)-BJP alliance and state politics, explained While all eyes have been trained on Maharashtra and ... Read more »

Eknath Shinde calls for one meet with rebel MLAs before returning to Mumbai after two weeks

© Provided by Firstpost Eknath Shinde calls for one meet with rebel MLAs before returning to Mumbai after two weeks Eknath Shinde will be addressing the dissident MLAs staying in ... Read more »

Family of Emmet Till demand arrest of female accuser after recovering 1955 warrant

The surviving family of Emmett Till wants authorities to arrest his accuser, Carolyn Bryant Donham, after an unserved arrest warrant was recently found. AP The family of Emmet Till — ... Read more »