October 31, 2018 / 6:44 AM / 18 days ago

Swiss National Bank reports a Q3 loss of 12.94 bln Sfr

ZURICH, Oct 31 (Reuters) - The Swiss National Bank reported a 12.94 billion Swiss franc ($12.88 billion) loss in its third quarter as the Swiss franc’s recent rise, triggered by trade war fears and concern over Italy, cut the value of its foreign currency holdings.

The central bank made a 10.51 billion franc loss on its foreign currency investments, which stand at 753 billion francs, while its gold reserves registered a valuation loss of 2.79 billion francs.

The result meant the SNB has, so far, recorded a loss of 7.83 billion francs in the year to date, down from a 33.7 billion franc profit at the nine-month stage in 2017. ($1 = 1.0050 Swiss francs) (Reporting by John Revill, editing by John Miller)

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