Markets

Swiss franc falls vs euro after SNB introduces negative rates

Published December 18, 2014 Updated December 18, 2014 08:05am

1 min

By Shoaib Ur Rehman

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LONDON: The Swiss franc hit the lowest level against the euro since mid-October on Thursday after the Swiss National Bank introduced a negative deposit rate.

The franc weakened to a low of 1.20925 per euro and was last trading down 0.5 percent at 1.2068 on trading platform EBS, edging away from the SNB's three-year old cap of 1.20 francs per euro.

It was also the weakest it had been against the US dollar since May 2013 at 0.936 per dollar.

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