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Currency trading investigation: Barclays sets aside £500m

  • Barclays is setting aside £500 million to cover possible costs from a currency trading probe, according to media reports.

    It is one of the many banks being investigated for allegations linked to rigged currency markets. It has been alleged that internet chatrooms were used while planning to fix benchmark prices.

    Meanwhile, Barclays has reported an increase in pre-tax profits to £3.72 billion for the first nine months of 2014, up from last year’s £2.85 billion.

     

    Tagged as: Barclays, currency trading probe, rigging, currency markets, benchmark prices, business news