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EU fines five major banks 1 bn euros for currency collusion

twitter-logo PTI        Last Updated: May 16, 2019  | 16:13 IST

Brussels, May 16 (AFP) The EU's powerful anti-trust authority on Thursday fined five major banks -- including Barclays and Citigroup -- for collusion in the massive foreign exchange currency market. The European Commission fined Barclays, the Royal Bank of Scotland, Citigroup, JPMorgan and Japan's MUFG Bank a total of 1.07 billion euros after finding that traders colluded to fix exchange rates using chat rooms, a statement said. (AFP) RS RS

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