# 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.

- Date: 2022-06-23 · published 2022-06-23T12:00:00.000Z
- Category: policy · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/41151-brazil-s-antitrust-body-settles-case-with-citibank-societe-generale-related-to
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2022-09-28 | [Brazil central bank to roll over currency swaps expiring in November \| Financial Post](https://feedsoft.ai/events/39792-brazil-central-bank-to-roll-over-currency-swaps-expiring-in-november-financial.md) | -3.9% | -0.7% |
| USDBRL | 2024-11-30 | [Brazil Central Bank to ban self-custody stablecoins as BRL collapses against the USD](https://feedsoft.ai/events/27619-brazil-central-bank-to-ban-self-custody-stablecoins-as-brl-collapses-against.md) | +1.3% | +3.4% |
| USDBRL | 2025-06-25 | [Brazil’s Central Bank intervention in FX market raises questions](https://feedsoft.ai/events/24424-brazil-s-central-bank-intervention-in-fx-market-raises-questions.md) | -0.7% | +0.9% |
| USDBRL | 2019-01-03 | [Bolsonaro effect on Brazilian markets and currency — MercoPress](https://feedsoft.ai/events/12358-bolsonaro-effect-on-brazilian-markets-and-currency-mercopress.md) | -3.4% | -4.1% |
| USDBRL | 2021-03-02 | [Brazilian stocks, currency fall as tax hikes spook investors - Markets - Business Recorder](https://feedsoft.ai/events/12206-brazilian-stocks-currency-fall-as-tax-hikes-spook-investors-markets-business.md) | +2.9% | +3.7% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/brazils-antitrust-body-fines-citibank-socit-gnrale-currency-manipulation-2022-06-23/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.