electrical engineering is the service industry that is an important part of the swiss economy.
electrical engineering is the service industry that is an important part of the swiss economy.
what service industry is an important part of the swiss economy?
electrical engineering
Na
Na
as investors flocked to the franc during the financial crisis, they dramatically pushed up its value. an expensive franc may have large adverse effects on the swiss economy; the swiss economy is heavily reliant on selling things abroad. exports of goods and services are worth over 70% of swiss gdp. to maintain price stability and lower the franc's value, the snb created new francs and used them to buy euros. increasing the supply of francs relative to euros on foreign-exchange markets caused the franc's value to fall (ensuring the euro was worth 1.2 francs). this policy resulted in the snb amassing roughly $480 billion-worth of foreign currency, a sum equal to about 70% of swiss gdp.
currency intervention