Brazil targets 15 banks in forex fixing probe

GMT 15:34 2015 Friday ,03 July

Arab Today, arab today Brazil targets 15 banks in forex fixing probe

HSBC
Brasília - Arab Today

Brazil's antitrust body announced a probe into alleged foreign exchange market rigging by 15 banks including Citigroup and HSBC.

"There are strong indications of anticompetitive practices of price fixing" and other manipulations between the banks, the watchdog known as Cade said late Thursday. The alleged cheating lasted from 2007 until at least 2013, authorities said.

 

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