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Four banks suspended after allegedly rigging practices in exchange auction

Four banks were recently suspended from foreign exchange auctions due to alleged rigging practices during the most recent auction that took place Sept. 30, the National Bank of Ukraine said Wednesday.

The banks had been warned of the possible implications of entering the auction selling exchange stock with a fixed rate.

As a result of evidence coming in after the auction, the banks were suspended from participating in future auctions for an undetermined time.

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