Swiss Foreign-Currency Reserves Hit Record as Franc Slips: Chart

(Bloomberg) -- The Swiss National Bank's holdings of foreign currency touched a record 724.4 billion francs ($739 billion) in September, an increase of 1 percent from August. The franc slipped against both the euro and the dollar last month, two currencies in which the central bank holds a large portion of its reserves. Still, the franc remains strong, requiring the SNB to stick with its policy of negative rates and occasional interventions, President Thomas Jordan said earlier this week.

To contact the reporter on this story: Catherine Bosley in Zurich at cbosley1@bloomberg.net.

To contact the editors responsible for this story: Fergal O'Brien at fobrien@bloomberg.net, Zoe Schneeweiss