The first three quarters of the year saw the Swiss National Bank collect a consolidated profit of 5.8 billion Swiss francs while pushing down losses correlated with the vibrant monetary unit, Reuters reports.
The institution executed various strategies earlier this year to water down the strength of the franc, which was harming the nation's economy by reducing the flow of tourists and others attracted to the nation. Yet the news released on Monday confirms the health of the Swiss franc.
"At the end of September, exchange rate losses amounted to 4.7 billion Swiss francs," the SNB stated, according to Reuters. "However, this figure was more than offset by the other components of foreign currency positions in the net result, which contributed more than 5.0 billion francs."
But that uplifting news did not prevent the franc from falling in value for a third consecutive day on Tuesday to the U.S. dollar, according to Bloomberg. The nation saw less-than-anticipated manufacturing output last month, which caused a stir about the nation's slowing economy.
The monetary unit also dropped when compared with the single currency of the European Union and the Japanese yen.
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