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> ... but it floated as high as 1.26 in 2013. Just before they abandoned the peg as too hard to maintian.
by devnulloverflow 7y ago
> ... but it floated as high as 1.26 in 2013.
Just before they abandoned the peg as too hard to maintian.
- kgwgk 7y agoMaintaining the 1.20 floor (not peg) is not hard when the CHF is weakening against the EUR, the SNB doesn’t need to do anything at all when the exchange rate is moving in the direction they want. They abandoned the floor more that a year and a half later, in January 2015, when the exchange rate was back at 1.20 despite their efforts to keep CHF appreciation under control.