Hildebrand resigns after forex trading scandal

Philipp Hildebrand, chairman of the Swiss National Bank (SNB), resigned today after weeks of criticism over currency dealings by his wife in August last year. Hildebrand's wife Kashya invested heavily in Sfr400,000 worth of US dollars shortly before the SNB acted to stop the Swiss franc's rise; two months later she was able to sell the dollars again at a profit of Sfr60,000. Her husband reported the deal to the SNB the day after it was closed.

In December 2011, the SNB released the conclusions

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