A look at the drop in emerging market currencies
LONDON (AP) — As financial uncertainty hits emerging economies, here's a look at how far some of their currencies have fallen this year against the dollar.
NEW YORK (AP) — French bank BNP Paribas has agreed to pay a $246 million fine as part of a settlement with the Federal Reserve over allegations that bank employees manipulated currency markets.
The bank announced the Federal Reserve settlement on Monday. Previously, BNP Paribas had agreed to pay a $350 million fine in an agreement with New York regulators.
NEW YORK (AP) — New York state regulators have fined French bank BNP Paribas $350 million, alleging bank employees for years manipulated global currency markets to benefit themselves at the expense of their customers.
The New York Department of Financial Services said Wednesday that from 2007 to 2013 at least a dozen BNP Paribas traders manipulated the foreign exchange market, using chat rooms and fake trades in currencies including the South African rand, Hungarian forint and Turkish lira.