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- After voting of United Kingdom for leaving the EU, Swiss franc was under constant pressure - said the bank in the report adding that they - intervened on the exchange market in order to stabilize the situation and that they will still be active in the market – reports the agency Franc press.
Considering that the outcome of the British referendum became clear, Swiss franc significantly strengthened compared to the European unique currency in ration 1.06 francs for euro this morning in 5:00 AM CET, compared to the 1.10 francs for euro 7 hours before that.
Three hours later ( around 7:50) franc somewhat weakened and it was traded for 1.085 per euro.
Swiss currency, which is traditionally considered safe sanctuary, has already marked a growth since the announcement of different researches of public organizations about yesterday’s referendum, that implied the possibility of the “Brexit” victory.
Stronger franc influences all Swiss exporters, who are forced to reduce the expenses and reduce the prices to stay compatible on the international market.
Swiss Central bank has introduced negative interest rate on deposits with the start of the last year, after rapidly discarding their three year policy of keeping the low franc exchange rate to protect the exports.
Swiss voted on the referendum in 1992 not to join the EU.
(Telegraf.co.uk / Tanjug)