ZURICH: The Swiss National Bank's foreign exchange reserves inched higher in August, data showed on Friday.
The SNB held 453.799 billion Swiss francs in foreign currency at the end of August, compared with 453.353 in July, revised from an originally reported 453.391 billion, preliminary data calculated according to the standards of the International Monetary Fund showed.
The SNB capped the soaring franc in September 2011 to help stave off recession and the threat of deflation and was forced to intervene heavily in 2012 as the euro zone crisis flared, swelling its already large foreign currency reserves.
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