Switzerland’s central bank said its chairman Philipp Hildebrand has stepped down in the wake of a public uproar over his private currency deals.

The Swiss National Bank said the resignation takes effect immediately and Mr. Hildebrand would make a statement and release documents to the public.

His departure coincided with a Swiss parliamentary committee hearing, to be held on Monday behind closed doors, to get answers about the deals he engaged in while leading efforts to soften the Swiss franc.

Mr. Hildebrand broke weeks of silence on Thursday to deny breaching central bank rules.

Swiss media have been awash with reports about public unease over the dollar swaps that netted Mr. Hildebrand tens of thousands of dollars last year. He said he has since donated the profits to charity.