July 31, 2025|
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|4 months agoSwiss National Bank Reports CHF15 Billion First-Half Loss
Switzerland's central bank posts significant losses due to currency fluctuations, with foreign currency positions particularly impacted by US dollar weakness.
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Generated IllustrationKey Takeaways
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- The Swiss National Bank recorded a total loss of CHF 15.3 billion in the first half of 2025.
- The SNB posted a loss of CHF 22.7 billion on its foreign currency positions.
- Gold holdings recorded a valuation gain of CHF 8.6 billion over the first half of the year.
- The SNB swung from a CHF 6.7 billion profit in Q1 to a CHF 22 billion loss in Q2.
- The US dollar fell from over 88 centimes at the end of March to 79 centimes at the end of June.
By The Numbers
CHF 15.3 billion
Total Loss (H1 2025)
CHF 22.7 billion
Foreign Currency Loss
CHF 8.6 billion
Gold Valuation Gain
CHF 4.2 billion
Gold Loss (Q2)
They Said
"The weakness of the dollar against the Swiss franc is clearly the main reason for the negative result."
"Strong fluctuations are therefore the rule and conclusions from the interim result to the annual result are only possible to a limited extent."