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In January, the Central Bank of Switzerland decided to renounce the rate of 1.2 Swiss francs to one euro and allowed the currency to fluctuate freely on the market. Almost immediately, the franc dropped almost 30% compared to the euro.
The Bank of Switzerland could not sustain any longer, in the current international context, the under-evaluated rate of the national currency because of the meaningful losses this situation has produced.
For more information, please see the Romanian version of the article, here.
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