Sentence examples for currency benchmark from inspiring English sources

Just like the old gold standard and the fixed rates of the Bretton Woods system, another international currency benchmark could be doomed: the hamburger standard.

The Financial Conduct Authority (FCA) began an investigation into the £3tn-a-day foreign exchange market in June following allegations that traders at major banks had found ways to manipulate a closely followed currency benchmark.

This week, one London-based company specialising in money transfers to Zimbabwe posted on the internet a tariff of Z$40,000 to the British pound (Z$20,250 to the greenback).But without a reliable currency benchmark, it is hard to set accurate prices or to value assets.

Of the seven benchmarks now being consulted on, three are linked to interest swaps - the so-called ISDA fix, and two rates known as Sonia and Ronia – while the others are gold, silver, the Brent oil futures contact and the currency benchmark known as WM which prices foreign exchange rates at 4pm London time.

The potential involvement of a former RBS trader in currency manipulation was reported by the Bloomberg news agency, which had first reported the potential for abuse of a currency benchmark operated by WM/Reuters and used by fund managers to value their investments.

There is no longer a stable currency benchmark for the largest economies in the world: the United States, the Eurozone, China, Japan, or any other country.

Two other US banks – JP Morgan and Citigroup – have said they are involved in the global investigation into potential rigging of currency benchmarks.

Prosecutors allege traders colluded with one another to manipulate two currency benchmarks that are used to establish the value of various currencies — the dollar versus the euro, for example.

A few weeks later, he ousted FCA chief executive Martin Wheatley, who had warned he would "shoot first" and ask questions later as he faced fresh scandals in the sector such as the attempted rigging of Libor and currency benchmarks, and the mis-selling of loan insurance. .

After the breakdown of the Bretton Woods system of fixed exchange rates in 1973 the Deutschmark emerged as the benchmark currency in continental Europe.

If the American government can't stand behind the dollar, the world's benchmark currency, then the global financial system will very likely enter a new era in which there is much less trade and much less economic growth.