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Taiwan Penalizes Deutsche Bank, 3 Others for Currency Trades

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Taiwan penalized Deutsche Bank AG and three other foreign lenders after a probe into speculation on the surging local currency last year involving grain companies.

Deutsche Bank’s trading approvals for Taiwan dollar deliverable forwards and non-deliverable forwards will be revoked, and it will be banned from engaging in transactions of foreign exchange derivatives for two years, the island’s central bank said in a statement Sunday.