Currency Note Worldwide

Swiss introduces negative interest rates

By Ricky Bean December 19th, 2014

  • The Swiss currency took its largest knock in over 18 months against the euro following the Swiss National Bank’s introduction of negative interest rates to defend the currencies cap. The franc dropped 0.3% to 1.2038 per euro yesterday morning, making the intraday decline the most since May 2013. It was not just the euro that the franc fell against, but all but one of its 16 major peers.
  • After Wednesday’s 11% gain the rouble fluctuated as Russia’s central bank announced a scope of measures put together in an attempt to stabilise the country’s financial system. The Russian currency dropped 2.9% after rising 3.4% against the dollar. The rouble has fallen almost 50% against the dollar, the biggest loss by any currency.

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