Many Swiss have tried to benefit from the release of the Swiss franc exchange rate. One of the major banks stopped the euro edition.
In Switzerland, ATM machines, temporarily gave no Euros from. | © Keystone / dpa
ATMs Swiss bank PostFinance temporarily give out any euro notes more. When the suspension is released, is still open said a spokesman for the Swiss PostFinance business news agency AWP. PostFinance is one of the largest financial institutions in Switzerland. At ATMs of other banks, however, euro could still be lifted, reports the Neue Zürcher Zeitung .
The computer technology UBS reached partly due to the large number of trades on the load limit. “Short-term one or the other customer is no longer purely come into the e-banking,” said a spokeswoman for the Swiss bank. Meanwhile, however, everything was working smoothly again.
In the morning, the Swiss National Bank had decided that the Franks artificially weaken any longer to keep the exchange rate again determined by the market. Previously, this had been set at a minimum rate of one euro for 1.20 francs for three years. The Swiss franc rose immediately massively and laid against the euro by nearly 14 percent.
The Swiss tried to profit from the market turmoil. By upgrading their currency products, which are sold in euros are correspondingly cheaper. SNB Vice President Thomas Jordan had also said that the market was exaggerating and the exchange rate will be relativized. For both the base rate was significantly reduced, which should reduce demand for Swiss francs. The demand for euros at ATMs is likely to be large, the Swiss of the assessment should follow.
In fact, the Swiss franc fell against the euro and the US dollar in the last few hours again in value. At 17.00 clock euro was worth 1.05 francs instead of 1.02 francs in the meantime.
From the cheap from a Swiss perspective euro and the German businesses expect positive effects because their goods compared to those in Switzerland cheapen. Negative see the SNB decisions, however, export-oriented companies in Switzerland whose products abroad more expensive. Swatch Group CEO Nick Hayek spoke of a tsunami for the export industry.
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