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Regulator fines Deutsche Bank London over forint transactions
  • Hungary
  • 23 June 2010

The Hungarian Financial Supervisory Authority has fined Deutsche Bank London Ft90 million (approximately €325,500) for manipulating the exchange rate of the Hungarian forint in a series of transactions undertaken in October 2008. The regulator concluded that Deutsche Bank London had sold huge quantities of Hungarian forints on the
over-the-counter market, causing a significant weakening in the forint rate.