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The CFTC found that currency traders at the five banks coordinated their trading with traders at other banks in order to manipulate the foreign exchange benchmark rates, including the 16:00 WM/Reuters rates. Currency traders at the banks used private chatrooms to communicate and plan their attempts to manipulate the foreign exchange benchmark ...
Selling rate: Also known as the foreign exchange selling price, it refers to the exchange rate used by the bank to sell foreign exchange to customers. It indicates how much the country's currency needs to be recovered if the bank sells a certain amount of foreign exchange. Middle rate: The average of the bid price and the ask price.
Foreign exchange; Exchange rates; Currency band; Exchange rate; ... De Facto Classification of Exchange Rate Arrangements, as of April 30, 2021, ...
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The booming U.S. stock market will help keep the dollar expensive as global investors pour money into America, a foreign exchange strategist said. But the politics of any trade deals that the ...
HSBC was hit with the highest penalty, at 174.3 million euros (£148.3 million), for its role in rigging the foreign exchange spot trading market.
The foreign exchange market (forex, FX (pronounced "fix"), or currency market) is a global decentralized or over-the-counter (OTC) market for the trading of currencies. This market determines foreign exchange rates for every currency. It includes all aspects of buying, selling and exchanging currencies at current or determined prices.
The exchange rate at which the transaction is done is called the spot exchange rate. As of 2010, the average daily turnover of global FX spot transactions reached nearly US$1.5 trillion, counting 37.4% of all foreign exchange transactions. [ 1 ]