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20 December, 14:13

When Switzerland let the value of the Swiss franc rise by 30 percent against the euro, what was the result?

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  1. 20 December, 14:38
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    The move caused major upheaval in the markets and even forced some foreign exchange brokers out of business.

    The franc was then widely viewed as a financial refuge due to the stability of the Swiss government and financial system. The buying interest at the time caused the franc to soar and in turn hurt the Swiss economy by making exports less competitive.
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