Recently, the franc and the euro have reached parity, due to the supposed restraint of the Swiss National Bank (SNB) in its interventions on the foreign exchange market. The franc's strength against the euro seems to have waned somewhat, at least for a while.

As of December 31, the rate had reached 1.03245. But the single currency has since recovered and recrossed the 1.05 franc mark on Monday. Banks' sight deposits with the SNB certainly swelled by 1.86 billion francs on a weekly basis, but they only concern the week which ended last Wednesday, and are generally influenced by the strong demand for banknotes. bank at the end of the year. As the strong appreciation of the euro only took place afterwards, it could be above all a question of profit taking.