The Swiss National Bank’s nine month profit dropped to 1.7 billion Swiss francs ($1.88 billion), the central bank said on Tuesday, after a 12.04 billion franc loss during the third quarter reduced gains from earlier in the year.
The SNB lost 9.16 billion francs from its foreign currency positions during the three months to the end of September, as bond and equity prices fell amid concerns that global interest rates would remain higher for longer.
The SNB also made a valuation loss of 132 million francs from the 1,040 tonnes of gold it holds, as global gold prices fell.
($1 = 0.9019 Swiss francs) (Reporting by John Revill, Editing by Friederike Heine)
