CSFB Closes Gap On Citi With Record Forex Profits For 1999

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ZURICH--Credit Suisse First Boston has leapt into second place in the global FX earnings ranking for 1999, with trading profits from foreign exchange and bank note trading of CHF1,813 million ($1,217 million).

Only Citibank made more from trading foreign exchange than CSFB during 1999, clocking up $1498 million in FX trading profits.

CSFB’s earnings leap -- up 45 per cent in Swiss franc terms from 1998’s figure of CHF1257 ($880 million) -- vaults CSFB ahead of the other big players jostling fo