ZURICH: Switzerland ran a current account surplus of 14 billion Swiss francs ($14.96 billion) in the fourth quarter of 2021, turning around the 10 billion franc deficit the country ran at the end of 2020, the Swiss National Bank (SNB) said on Tuesday.

“The current account balance was higher than in Q4 2020, with all components contributing to the increase,” the SNB said, noting Swiss companies received more from their foreign investments.

Switzerland: the land that inflation left behind

The central bank acquired reserve assets of 23.5 billion francs during the fourth quarter, up from 10.3 billion in the third quarter, indicating it had been more active buying foreign currencies to weaken appreciation pressure on the Swiss franc.