07 May '13, 11am

How Singapore's currency club fell apart: Mukesh Kumar Chhaganlal said he tried to warn his manager at UBS AG

Mukesh Kumar Chhaganlal said he tried to warn his manager at UBS AG about the "increasingly unrealistic" currency rates being set last year for the Indonesian rupiah against the dollar. His manager told him nothing could be done because "there was no way to control the market or how people set the rates on the market", according to court documents Mukesh filed in Singapore recently in his wrongful termination suit. Months after this alleged conversation, UBS fired Mukesh. He says in court papers he has not been given the reasons for his sacking, and that he was not a party to the ... (

Full article: http://www.forexfactory.com/news.php?do=news&id=426431

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