Swiss central bank loses $4 billion trying to halt its currency's rise

08/13/2010 | New York Times (tiered subscription model), The

When the euro started falling sharply, the Swiss National Bank aggressively intervened in the currency market to prevent the Swiss franc from rising, an event that harms the export sector. The effort failed, and the central bank reported a second-quarter loss of $4 billion.

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New York Times (tiered subscription model), The

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