The SNB has been active in bolstering the Swiss franc in the first three quarters of the year, as they are trying to dampen the impact of imported inflation to the economy. Here’s a look at their recent forex sales in the last few quarters:

• Q4 2022: CHF 27.3 billion
• Q1 2023: CHF 32.3 billion
• Q2 2023: CHF 40.3 billion (largest amount since statistics began in 2020)
• Q3 2023: CHF 37.6 billion (~$45 billion)

This article was written by Justin Low at www.forexlive.com.