Most Big Canadian Banks Report Solid Foreign Exchange Income Gains In 1990
BANKS
Although overall results were cloudy, most of the large Canadian banks reported increased foreign exchange income in the year ended October 31, 1990, according to reports from those banks.
Foreign exchange income was bolstered by an extremely strong final quarter, traders and analysts say. Unusually volatile market conditions and a clearly defined trend towards a lower U.S. dollar during that period also pumped up foreign exchange trading revenues at most of the U.S. banks (FX Week, October 26)
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