Swiss Francs

Swiss Franc Rockets After Central Bank Removes Cap On Euro

The Swiss National Bank (SNB) stunned markets Thursday by scrapping its long-standing cap of 1.20 Swiss francs per euro, sending the franc soaring and stoking fears about the export-reliant Swiss economy.

The announcement sent Swiss shares tumbling over 10% and forced holders of bank accounts to rush to exchange money.

SNB scraps three-year-old cap on the franc
The Swiss central bank introduced a peg of 1.20 Swiss francs . . .


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