Latest data released by the SNB - 6 November 2020
- Prior CHF 873.5 billion
Swiss forex reserves were down in October but this is a proxy indicator of SNB interventions and I'd argue that the weekly sight deposits data offers a better reflection of that, so it is hard to read much into this from month-to-month. The longer-term trend still supports the narrative that the SNB has been stepping into the market.
