3.7 C
New York
Friday, February 3, 2023

Swiss National Bank posts record $143 billion loss in 2022

Swiss National Bank posts record 3 billion loss in 2022
© Reuters. FILE PHOTO: A man walks past the Swiss National Bank (SNB) building in Zurich October 31, 2013. The SNB reported a nine-month loss of 6.4 billion Swiss francs, due to a valuation loss on its gold holdings. REUTERS/Arnd Wiegmann

ZURICH(Reuters) – The Swiss National Bank posted an annual loss of 132 billion Swiss francs ($142.67 billion) in 2022, it said on Monday, the biggest loss in its 115-year history.

The central bank plunged into the red as falling stock and fixed-income markets hit the value of its share and bond portfolio, while the appreciation of the Swiss franc also had a negative impact.

Monday’s figure, which marked a reverse from a 26 billion franc profit in 2021, was bigger than the previously biggest loss of 23 billion francs chalked up in 2015. It is equivalent to slightly more than the annual GDP of Morocco.

($1 = 0.9252 Swiss francs)

Source: Investing.com

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

11,268FansLike
12,893FollowersFollow
742FollowersFollow
- Advertisement -

Latest Articles

Popular Articles