Switzerland – The value of the euro in the market decreased significantly yesterday, Wednesday, following the “Credit Suisse” stock collapsed on the stock exchanges, amid fears of a repeat scenario of the bankruptcy of “Silicon Valley Bank” in Europe.
Credit Suisse shares collapsed to a new record high following the banking group’s largest investor said it was unable to provide additional financial assistance to the Swiss bank.
According to “Bloomberg” agency data, “Credit Suisse” share fell on the Swiss Stock Exchange (SIX) to its lowest level ever, as it fell, by 27.32%, to 1.58 Swiss francs per share, and the agency reported that it was the largest decline in one day for the bank’s share.
Before that, the Chairman of the Board of Directors of the National Bank of Saudi Arabia, Ammar Al-Khudairi, told the media, “The bank cannot increase investment in” Credit Suisse “for regulatory repercussions.”
In the currency market, the euro fell by 15:45 Moscow time, by 1.72%, to 1.0548 dollars, in light of the decline in shares of European banks and fears of bankruptcy.
Source: Agencies