Swiss Forex Reserves Edge Down in October

The Swiss National Bank’s foreign exchange reserves fell to CHF 724.8 billion in October 2025, from an upwardly revised CHF 726.8 billion in the previous month. Declines were seen in SDRs (CHF 10.278 billion vs CHF 10.295 billion in September) and the IMF reserve position (CHF 1.612 billion vs CHF 1.621 billion), while gold holdings picked up (CHF 108.024 billion vs CHF 101.941 billion).

The Swiss National Bank’s foreign exchange reserves increased to CHF 716.4 billion in July 2025, from an upwardly revised CHF 713.1 billion in the previous month. This marked the largest amount since March, primarily driven by increases in the IMF reserve position (CHF 1.667 billion vs CHF 1.657 billion in June), SDR holdings (CHF 10.345 billion vs CHF 10.288 billion), and gold reserves (CHF 89.9 billion vs CHF 87.613 billion). Conversely, other reserve assets (CHF 0.017 billion vs CHF 0.051 billion) decreased.

The Swiss National Bank’s foreign exchange reserves rose to CHF 712.996 billion in June 2025 from an upwardly revised CHF 703.598 billion in May. This growth occurred despite declines in several key reserve components, including the IMF reserve position (CHF 1.657 billion vs. CHF 1.717 billion in May), SDR holdings (CHF 10.288 billion vs. CHF 10.512 billion), and gold reserves (CHF 87.613 billion vs. CHF 90.313 billion). In contrast, other reserve assets swung into positive territory, rising to CHF 0.048 billion from a previously negative CHF 0.024 billion