Reuters logo
6 months ago
S.African cenbank deputy governor calls for accountability in FX rigging scandal
February 24, 2017 / 11:20 AM / 6 months ago

S.African cenbank deputy governor calls for accountability in FX rigging scandal

JOHANNESBURG, Feb 24 (Reuters) - South Africa's central bank wants commercial lenders involved in the rand currency rigging scandal to be held accountable, deputy governor Daniel Mminele said on Friday.

South Africa's Competition Commission said last week that it had found more than a dozen local and foreign banks had colluded to coordinate trading in the rand and the U.S dollar using an instant chat room called "ZAR Domination".

"The South African Reserve Bank ...is of the view that those found to have violated the law should accept full responsibility for their actions and be held accountable, and corrective measures should be implemented," Mminele said in a speech posted on the bank's website. (Reporting by Olivia Kumwenda-Mtambo; Editing by James Macharia)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below