March 22, 2017 / 2:22 PM / in 8 months

Swiss says new method still shows franc "significantly overvalued"

ZURICH, March 22 (Reuters) - The Swiss National Bank said the Swiss franc remains “significantly overvalued” according to new methods it is using to calculate its value versus the currencies of the country’s main trading partners.

The new method allows the Swiss economy’s competitive and trading relationships to be replicated in a more comprehensive and up-to-date way, the central bank said on Wednesday.

“The results of the new calculation show very similar movements in the Swiss franc to those shown by the old index,” the SNB said.

“The new index, too, shows that the Swiss franc is significantly overvalued,” it added. (Reporting by John Revill; Editing by Hugh Lawson)

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