Local presence vital for LatAm FX success

As interest in the region picks up (FX Week, February 24), almost constant political and economic change means only those banks with on-the-ground presence can keep up with developments, said some LatAm traders. During the past 12 months in Latin America, for example, Argentina has burned through five presidents and as many central bank chiefs, while Brazil has narrowly avoided a massive sovereign debt default and Venezuela’s FX markets have been closed.

"We have both FX trading and sales ope

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