Tag: franc

• Tuesday, September 6th 2011 - 20:08 UTC

  Swiss central bank puts a cap to the Franc to combat massive overvaluation

  

  The Swiss central bank announced Tuesday a ceiling on the currency by setting an exchange rate minimum against the Euro. The Swiss National Bank (SNB) boldest move states that the exchange rate between the Swiss franc and the Euro must not drop below 1.20 Euros. And if it does, the Swiss bank is prepared to enforce the minimum by selling francs and buying up euros “in unlimited quantities.”