ZURICH, March 24 Switzerland's fourth-quarter
current account surplus widened by 5 billion Swiss francs ($5.04
billion) year on year to 22 billion francs as surpluses in
services and in trade in goods both rose, data from the Swiss
National Bank showed on Friday.
The financial account balance -- the increase in the net
international investment position resulting from cross-border
investment -- rose by 18 billion francs, mainly due to
stockpiling an extra 21 billion in reserve assets, it said.
The net international investment position increased by 83
billion francs in the fourth quarter to 4.482 trillion francs,
helped by exchange rate gains on assets denominated in dollars.
For 2016 as a whole the Swiss current account surplus
narrowed by 5 billion francs to 70 billion.
($1 = 0.9930 Swiss francs)
(Reporting by Michael Shields; Editing by Brenna Hughes