ZURICH: The Swiss National Bank's foreign exchange reserves fell to a revised 231.6 billion Swiss francs in November, according to data provided to the International Monetary fund.
This is revised from the preliminary figure of 229.3 billion francs announced earlier in December and down from the 245.04 billion francs in forex reserves in October, according to the data sent to the IMF.
After the franc nearly touched parity with the euro and threatened to tip the country into recession, the SNB on Sept. 6 announced it would cap the franc at 1.20 per euro and intervene in the foreign currency markets to defend that level.
The SNB has been using foreign exchange swaps and other measures to boost liquidity in the money market to weaken the franc.
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