Kashya Hildebrand, the wife of Swiss central bank Chairman Philipp Hildebrand, stirred suspicion when buying US dollars last August shortly before a change in Swiss Central Banking policy aimed at limiting the rise of the Swiss Franc. Kashya, who has since been cleared, says the timing was motivated by the valuation and a regular need for US Dollars in her business:

“My interest in the dollar purchase was motivated by the fact that it was at a record low and almost ridiculously cheap,” Swiss Television’s “10vor10” program reported late yesterday, citing Kashya Hildebrand saying in a written statement. She also said that she had worked in the financial industry in the 15 years through 1999 before becoming an art dealer and “felt comfortable with this transaction.” […]

Kashya Hildebrand also said that 70 percent to 80 percent of financial transactions at her art gallery are in dollars. “The day after the dollar purchase, the SNB’s general counsel was informed for the sake of transparency, and there were no objections to the transaction,” she said in the statement.

SNB Chairman’s Wife Defends ‘Ridiculously Cheap’ Dollar Purchase (Bloomberg)