# CADE signs five agreements regarding a cartel investigation in the foreign exchange market and opens a new cartel investigation in the Brazilian exchange market — Conselho Administrativo de Defesa Econômica

> Brazil's antitrust body CADE signed five cease-and-desist agreements with Barclays, Citicorp, Deutsche Bank, HSBC and JP Morgan over alleged cartel conduct in the offshore foreign exchange market, involving the real. The agreements total BRL 183.5 million in payments, and CADE also opened a new cartel probe in the Brazilian exchange market.

- Date: 2016-12-09 · published 2016-12-09T12:00:00.000Z
- Category: policy · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/73693-cade-signs-five-agreements-regarding-a-cartel-investigation-in-the-foreign
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

The enforcement action concerns FX market conduct and has little direct effect on physical feed supply or demand. Any impact on the real would be indirect and minor for feed buyers.

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| USDBRL | 2025-02-21 | [Brazil's central bank has no exchange rate target, says director \| MarketScreener](https://feedsoft.ai/events/26260-brazil-s-central-bank-has-no-exchange-rate-target-says-director-marketscreener.md) | +2.3% | -0.4% |
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| 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

- gov.br: https://www.gov.br/cade/en/matters/news/cade-signs-five-agreements-regarding-a-cartel-investigation-in-the-foreign-exchange-market-and-opens-a-new-cartel-investigation-in-the-brazilian-exchange-market

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