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Brazil exporters demand US$3.8 billion from banks for currency manipulation – report

RIO DE JANEIRO, BRAZIL - Brazil's biggest exporters, including Vale SA and Suzano SA, are demanding R$19 billion (US$3.77 billion) from 19 banks in a class action which accuses them of manipulating foreign exchange rates, newspaper Valor Economico reported on Tuesday.

Exporter association AEB, which filed the class action, said Brazilian exporters took losses of R$107.4 billion with the alleged manipulation of currencies by banks, according to the report. AEB's compensation calculations took into consideration that the association represents 20% of all Brazilian exporters.

Among the banks included in the class action are Itau . . .

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