Swiss National Bank agrees to currency swap with People's Bank of China

3Wishes · #1 21.07.2014, 20:55

From the article:

"The Swiss National Bank and the People’s Bank of China agreed to establish a bilateral currency swap line, bolstering access to trade finance in the Swiss franc and strengthening the international use of the yuan."

Link: http://mobile.bloomberg.com/news/201...increases.html

fatmanfilms · #2 21.07.2014, 21:21

	Quote:	3Wishes
	From the article: "The Swiss National Bank and the People’s Bank of China agreed to establish a bilateral currency swap line, bolstering access to trade finance in the Swiss franc and strengthening the international use of the yuan." Link: http://mobile.bloomberg.com/news/201...increases.html

I don't think selling CHF for Chinese currency is a trade I would want to do.

Phil_MCR · #3 21.07.2014, 22:04

	Quote:	fatmanfilms
	I don't think selling CHF for Chinese currency is a trade I would want to do.

well, they are selling CHF at under-value for EUR, so I wouldn't put it past the SNB

fatmanfilms · #4 21.07.2014, 22:07

	Quote:	Phil_MCR
	well, they are selling CHF at under-value for EUR, so I wouldn't put it past the SNB

It's very funny really, if only the Swiss people realized they were being ripped off. If the SNB start buying Apple , I will sell my entire holding.