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Swiss textile body demands weakening of franc

29
Dec '11
In a bid to stave off losses and jobs, a Swiss textile lobby has demanded weakening the Swiss Franc (CHF) against the Euro.

The Textile Association of Switzerland has once again demanded that the exchange rate of one Euro should be 1.35 CHF.

The association in a statement said that, for every €10 million it generated in revenues, it was getting CHF 2 million less.

It said, textile exports tumbled 14 percent in November and if the situation gets worse, they might consider relocating to another country.

Fibre2fashion News Desk - India


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