Swiss National Bank adjusts balance sheet, determined to prevent excessive currency strength

Golden Ten Data reported on March 31 that the Swiss National Bank sold a small amount of foreign currency at the end of last year, slightly shrinking its balance sheet while risking a stronger franc. The Swiss National Bank stated on Tuesday that it reduced its foreign exchange reserves by 6 million Swiss francs (approximately 7.5 million US dollars) in the fourth quarter. According to the institution's full-year statistics, the size of its balance sheet remained virtually unchanged. As investors looked for safe havens to hedge against the impact of the Iran war, the franc surged to a ten-year high this month. The Swiss National Bank previously indicated that it would reinforce its determination to curb excessive appreciation of the franc through intervention measures.