March 6, 2020 / 8:39 AM / 24 days ago

Swiss National Bank foreign currency reserves increase in February

ZURICH (Reuters) - The Swiss National Bank’s foreign currency reserves increased by more than 5 billion Swiss francs ($5.30 billion) during February, data showed on Friday, indicating the central bank has been active in the foreign currency markets to weaken the safe-haven Swiss franc.

Foreign currency reserves rose to 769.09 billion Swiss francs from 763.97 billion francs at the end of January, the bank said, declining to comment further on the rise.

The SNB invests its foreign currency mainly in bonds, with 20% in stocks of companies like Apple (AAPL.O) and Starbucks (SBUX.O).

Reporting by John Revill; Editing by Michael Shields

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