Citibank Launches New Spot Foreign Exchange Benchmarks

BANKS

LONDON--Citibank is promoting a range of new foreign exchange benchmarks, including 37 spot fixing rates, updated six times a day in the three main global trading centres.

The rates, which are being made available to Citi's clients, and to the rest of the market, are designed to allow market participants to keep track of positions, mark positions to market, evaluate portfolio performance, determine contract pricing and set budgets.

A statement issued by Citbank claims that there is a growing

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