The Swiss central bank accumulated a huge loss in the first nine months of the year, with the strong currency affecting its foreign currency reserves.
The Swiss National Bank posted a loss of 7.8 billion Swiss francs ($7.8 billion) in the first three quarters of 2018, the bank said in a statement on Wednesday.
The loss on foreign currency positions amounted to 5.3 billion francs and gold holdings depreciated to the tune of 3.7 billion francs.
Negative Interest
On Swiss franc positions, the central bank made a profit worth 1.5 billion francs, mainly from negative interest charged on sight deposits held by commercial banks.
Since the end of 2014, Swiss banks have been charged a negative interest for cash holdings parked at the central bank.
