Switzerland and the United States have jointly reaffirmed their commitment to avoiding currency manipulation, according to a statement released this week. The agreement underscores both nations’ dedication to maintaining fair exchange rates and a stable international monetary system. The Swiss National Bank has pledged to continue focusing its monetary policy on ensuring price stability within Switzerland.
The document, published on Monday, follows discussions with the Swiss central bank and finance ministry as part of an ongoing dialogue established in 2022. Both countries affirmed their obligations under the International Monetary Fund’s Articles of Agreement. These obligations include avoiding the manipulation of exchange rates or the international monetary system to either prevent balance of payments adjustments or gain an unfair competitive edge.
Switzerland has been on a watch list of economies monitored by the U.S. Treasury since June, due to its foreign exchange policies. Following the initial placement on the list, a spokesperson in Bern emphasised the “constructive dialogue” between the two countries. This dialogue occurred prior to the U.S. imposing a 39 per cent tariff on Swiss exports.
The joint statement reinforces the collaborative effort to ensure transparency and fairness in international finance. By reaffirming their commitment, Switzerland and the United States aim to foster greater stability and trust within the global economic landscape.
