By Daniel Hunter

Fines relating to the foreign exchange (forex) scandal have totaled $5.7 billion (£3.6bn), according to US officials.

Five of the world's largest banks were investigated for manipulating foreign exchange rates and interest rates.

JPMorgan, Citigroup, Barclays, RBS have all pleaded guilty to US criminal charges. But Swiss Bank UBS is to plead guilty to manipulating interest rates.

Barclays was fined $2.4bn after it missed a deadline in November to settle the claims for a 30% discount.

Earlier today (Wednesday) UBS paid $545 million to US authorities to settle the allegations.

It includes a $203m fine after it pleaded guilty to rigging the Libor benchmark interest rates.

UBS had reached an agreement with the DoJ over Libor in 2012. But it was revoked in the wake of the latest allegations. UBS has now pleaded guilty to wire fraud, has paid the $203m figure and will now operate under a three-year probationary period.

In a statement, UBS said: "The conduct of a small number of employees was unacceptable and we have taken appropriate disciplinary actions."