No evidence of currency manipulation, says Tito Mboweni
In reply to EFF question, finance minister says Competition Commission is investigating a case of price fixing and market allocation in the trading of foreign-currency pairs
The National Treasury and SA Reserve Bank do not have evidence that any bank has taken part in currency manipulation, according to finance minister Tito Mboweni.
Mboweni was responding to a written question from EFF MP Makoti Khawula, who had asked whether the Treasury had investigated the impact of the manipulation of the rand by various commercial banks, “in particular Absa, as found by the Competition Commission; if not, why not; if so, what were the findings?”..
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