◂ Event Timeline

Jun 23, 2022POLICYBrazil

Brazil's antitrust body settles case with Citibank, Société Générale related to currency manipulation probe

Brazil's antitrust body CADE settled a currency manipulation case with Citibank, which agreed to pay 71.6 million reais, and with Société Générale. CADE found evidence dating to 2016 of banks fixing currency spreads and coordinating real trades.

WHY IT MATTERS

The settlement is a financial-sector enforcement matter with little direct effect on feed commodity supply, demand or prices.

AFFECTSUSDBRL

SOURCE
reuters.comJun 23, 2022

Price reaction & history

USDBRLno directional readSO FAR1d +0.9%5d +1.6%20d +6.6%

After 36 past policy events, USDBRL moved a median -0.5% over 5 sessions (44% higher; middle half -2.8% to +1.6%), and -0.3% over 20.

Sep 28, 2022Brazil central bank to roll over currency swaps expiring in November | Financial Post-3.9%
Nov 30, 2024Brazil Central Bank to ban self-custody stablecoins as BRL collapses against the USD+1.3%
Jun 25, 2025Brazil’s Central Bank intervention in FX market raises questions-0.7%
Jan 3, 2019Bolsonaro effect on Brazilian markets and currency — MercoPress-3.4%
Mar 2, 2021Brazilian stocks, currency fall as tax hikes spook investors - Markets - Business Recorder+2.9%

Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.

USDBRL · GP ▸

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