Switzerland In 2013, the Swiss National Bank’s commitment todefending the minimum exchange rate remainedunchanged. After a short period of volatility, the Swiss franc has followed an appreciating trend within a 2% band against the euro since May 31, 2013. Therefore,the de facto exchange rate was reclassified to a crawl-likearrangement from other managed, effective May 29, 2013.
Previous Arrangement1 : Other managed
Arrangement in the 2014 arear : Crawl-like arrangement