Switzerland is not manipulating the Swiss franc for competitive gain, the country’s government said on Tuesday after the United States added it to a watchlist of currency manipulators, APA reports citing Reuters.
“It should be stressed that Switzerland does not in any way engage in manipulation of its currency to prevent adjustments to the balance of payments or gain unjustified competitive advantage,” the Swiss finance ministry said in a statement.
Switzerland’s inclusion in the U.S. Treasury’s list, alongside countries including Germany, South Korea and Japan, would have no immediate consequences, the statement added. The Swiss National Bank declined comment.
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