The Swiss National Bank (SNB) President Thomas Jordan said in Bern on Monday that the central bank intervened to stabilize the market.
"We have always said that we are active in the foreign exchange market if necessary. A situation like we experienced over the weekend is a situation which warranted this need and we went in to stabilize the market," he said.
Jordan declined to comment on the details of the intervention.
The SNB president pointed that the central bank is prepared for a Greek default. He added that the Greek debt crisis should not destabilise other countries from the Eurozone such as Spain and Portugal.