# Brazil watchdog fines Morgan Stanley, Royal Bank of Canada for forex manipulation

> Brazil's antitrust watchdog fined Morgan Stanley and Royal Bank of Canada for allegedly colluding to manipulate bid-ask spreads on offshore spot transactions in the Brazilian real. The fines were announced on Wednesday. The excerpt is incomplete.

- Date: 2018-06-13 · published 2018-06-13T12:00:00.000Z
- Category: macro · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/64740-brazil-watchdog-fines-morgan-stanley-royal-bank-of-canada-for-forex-manipulation
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

The case concerns market conduct in the real's offshore spot market and has little direct effect on feed commodity supply, demand or prices.

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2020-06-09 | [Brazil central bank watching FX, commodities impact on inflation \| 1330 & 101.5 WHBL](https://feedsoft.ai/events/52815-brazil-central-bank-watching-fx-commodities-impact-on-inflation-1330-and-101-5.md) | +6.6% | +9.7% |
| USDBRL | 2018-07-13 | [Brazil: BRL now seems more aligned with global market moves - Rabobank - Forex Crunch](https://feedsoft.ai/events/64235-brazil-brl-now-seems-more-aligned-with-global-market-moves-rabobank-forex-crunch.md) | +0.9% | -0.8% |
| USDBRL | 2024-08-30 | [Brazil Real Swings on Fiscal Woes, Central Bank Interventions](https://feedsoft.ai/events/29017-brazil-real-swings-on-fiscal-woes-central-bank-interventions.md) | -0.8% | -3.6% |
| USDBRL | 2025-02-03 | [Trump's tariffs raise fears Brazil's central bank is out of step on inflation](https://feedsoft.ai/events/26256-trump-s-tariffs-raise-fears-brazil-s-central-bank-is-out-of-step-on-inflation.md) | -0.9% | +0.8% |
| USDBRL | 2022-09-26 | [Brazil makes first FX intervention of the year - Central Banking](https://feedsoft.ai/events/39790-brazil-makes-first-fx-intervention-of-the-year-central-banking.md) | +3.1% | +0.8% |

## Sources

- reuters.com: https://www.reuters.com/article/business/brazil-watchdog-fines-morgan-stanley-royal-bank-of-canada-for-forex-manipulatio-idUSKBN1J92YY/

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