Belfast Telegraph

Swiss boost cash to save exports

The Swiss National Bank has intensified its measures against the strong franc by boosting the supply of the currency in the money markets.

The SNB said yesterday it would expand the deposits of banks held at the central bank further, from Sfr12billion (£93.2bn) to Sfr2bn (£155.3bn) as the currency "remains massively overvalued" despite previous efforts. The franc has been buoyed of late by its status as a safe haven for investors, hitting Swiss exporters.