Sentence examples for a minimum exchange from inspiring English sources

Thomas Jordan, chairman of the SNB's governing board, said the central bank was obliged to intervene to ensure its target of a minimum exchange rate of 1.20 Swiss francs per euro was met.

The Trade » Swiss National Bank to Defend Exchange Rate  |  Switzerland's central bank said it would maintain a minimum exchange rate of 1.20 Swiss francs per euro, The Wall Street Journal reports.

Announcing a "minimum" exchange rate of SFr1.20 per euro (in effect, a ceiling), the SNB said it would buy "unlimited quantities" of foreign currency in exchange for Swiss francs, which have become a haven for investors fleeing the euro zone's debt crisis.

The safeguard worked like this: by enforcing a minimum exchange rate against the euro, the SNB forced down the value of the Swiss franc.

The SNB was operating "a kind of minimum exchange rate against the euro", Schweiz am Sonntag newspaper said.

"This marks a major new round in the currency war," says Chris Turner, head of foreign-exchange strategy at ING. "Could not Japan also set a minimum yen/dollar exchange rate at 75 as a means to battle deflation?"The euro zone in particular may rue the Swiss move.

While the Swiss franc is still high, the overvaluation has decreased as a whole since the introduction of the minimum exchange rate.

Only a month ago, the central bank said it would enforce the policy with the "utmost determination".The Swiss National Bank (SNB) announced that:The minimum exchange rate was introduced during a period of exceptional overvaluation of the Swiss franc and an extremely high level of uncertainty on the financial markets.

"The minimum exchange rate is still the key instrument to avoid an undesirable tightening of monetary conditions and to maintain price stability".

"The minimum exchange rate is absolutely essential for the current economic situation.

"The Swiss National Bank will maintain the minimum exchange rate of 1.20 francs per euro," Thomas Jordan, the bank's chairman, said at a news conference last week.