In a development which led to country's central bank selling the currency immediately, the Swiss Franc weakened by as much as 0.3% against the Euro. The fall has come after the currency hitting its highest level in as many as 5 months.

In addition to Euro, the Franc also recorded falling values against the Dollar, after climbing yesterday for the first time in 19 months. Both major Swiss banks, the Swiss National Bank and the Bank for International Settlements have declined to comment on the sudden currency slip.

"I've seen them (the banks)", said Martin Furrer, a currency trader in Luzern at Luzerner Kantonalbank AG. "They are buying the dollar. They are worried about the euro level".

Over the past month, the Franc gained as much as 1.9% against the Dollar and 0.4% against Euro, leading economists to believe that the county's economy was well on its way to recovery, but the latest fall has forced them to reconsider their stance.

Most experts have been quick to sound an upbeat chime by saying that this is just another sign that the markets are still very unstable, and not necessarily bad, as the currency has every chance of rising again over the coming days.