Deutsche Bank will pay a fine of $203 million for manipulating exchange rates on the foreign exchange market.

The financial regulator of New York has imposed a fine on Deutsche Bank - and the bank agreed to pay a fine of $203 million.

The regulator accused the bank of manipulating the rates and inflated spreads that traders and bank managers used against the interests of clients.

The case concerned the period from 2007 to 2013, when Deutsche Bank was the largest trader in the foreign exchange market in the world.