Spanish Banks Report Steady Gains In Annual Forex Trading Revenues
BANKS
Although most Spanish banks do not break out forex trading revenues from overall trading results, banks indicate a strong 1996 for the FX business compared to the previous year. The gains are due, in part, to stability ahead of the planned single currency, as well as to opportunities in emerging markets currencies, says Stephanie Cas Medina, Spanish economist at MMS International in London.
Cas Medina says the mark/peseta was "incredibly stable" during 1996, moving at a high of 84.50 and a low of
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