Rabobank FX down in first half

NEWS

UTRECHT – Dutch bank Rabobank said last week its forex revenues were down on the previous year for first-half 2002.

The bank does not break out FX trading numbers in its interim financial report, and senior foreign exchange officials at the bank were not available for comment. However, the bank noted that while commission in the period under review was up 9% to e915 million from e843 million in the first half of 2001, “commission income from foreign exchange arbitrage fell due to the i