First Libor, Now Currency Exchanges

COME ON

Updated Apr. 21, 2017 10:16AM EDT / Published Jun. 12, 2013 8:26AM EDT

And the reasons clients continue to trust big banks are? Bloomberg News reports that some of the biggest banks globally have been manipulating benchmark foreign-exchange rates to profit from moves they subsequently make for clients. The $4.7 trillion-a-day foreign-exchange market (FX market) is one of the least regulated. The rigging of these rates affects the value of trillions of dollars in funds, including pensions and savings accounts.

Read it at Bloomberg News

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First Libor, Now Currency Exchanges