SNB's Schlegel says important forex market understands increased readiness to intervene

ZURICH, March 19 (Reuters) - The Swiss National Bank has increased its readiness to intervene in currency markets to dampen raised demand for the Swiss franc, Chairman Martin Schlegel said on Thursday, although he declined to indicate the scale of purchases the central bank could carry out this year.

"It's very important that the market understands our approach with interventions, and our approach is that we now have increased readiness to intervene in the forex markets," said Schlegel, referring to the risk of a rapid and excessive rise of the currency.