The Swiss franc has become the most volatile currency in the world
According to Bloomberg, the Swiss franc fluctuations have exceeded those of the ruble, being the most volatile global currency now.
This situation evolved after the Swiss National Bank unexpectedly dropped last week the currency ceiling.
"Switzerland's central bank announcement was a major surprise for the market. There are many negative factors around the ruble, but in terms of volatility is likely that the most difficult time was exceeded," said Piotr Matys, an analyst at Rabobank International in London, according to Bloomberg data.
The volatility of the Swiss franc reached 261%, hovering over the ruble, because of the Swiss National Bank's decision to waive the minimum quotation of 1.2 francs / euro, resulting in massive appreciation of the Swiss currency.
In the last 12 months, the ruble was the most volatile currency, increasing its instability after Russia allowed free currency fluctuation, which accelerated depreciation triggered by the collapse of oil prices and sanctions imposed by the conflict in Western Ukraine.
In December 16, ruble volatility reached 245%.