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EU fines five major banks 1 bn euros for currency collusion

AFP  |  Brussels 

The EU's powerful anti-trust authority on Thursday fined five major banks -- including and -- for in the massive foreign exchange currency market.

The fined Barclays, the Royal Bank of Scotland, Citigroup, and Japan's a total of 1.07 billion euros after finding that traders colluded to fix exchange rates using chat rooms, a statement said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, May 16 2019. 16:01 IST