 "Swiss central bank intervenes to stabilise franc after Brexit")
Switzerland's central bank on Friday said it had intervened in the foreign exchange market to stabilise the Swiss franc, considered a safe haven currency, following the Brexit vote.
"Following the United Kingdom's vote to leave the European Union, the Swiss franc came under upward pressure," banks said in a statement, adding that it had intervened in the foreign exchange market to stabilise the situation and will remain active in that market.
As a result of the vote became clear, the Swiss franc strengthened considerably against the Euro, trading at just 1.06 francs to the euro at 7:00 am (0500 GMT) compared to 1.10 francs to the euro seven hours earlier.
"Following the United Kingdom's vote to leave the European Union, the Swiss franc came under upward pressure," banks said in a statement, adding that it had intervened in the foreign exchange market to stabilise the situation and will remain active in that market.
As a result of the vote became clear, the Swiss franc strengthened considerably against the Euro, trading at just 1.06 francs to the euro at 7:00 am (0500 GMT) compared to 1.10 francs to the euro seven hours earlier.