Swiss franc rises to highest level in more than a decade versus the euro

ZURICH: The Swiss franc surged in value on Monday morning to its highest value against the euro in more than a decade after investors piled into the safe-haven currency due to fears over the conflict in the Middle East.

The euro dropped to 0.9037 francs in early trading, its lowest level since the Franc Shock of 2015.

Swiss National Bank reports annual profit of $34 billion

The Swiss National Bank declined to comment on the development or whether it would intervene in currency markets to slow the currency’s appreciation.