Here’s one thing about the Competition Commission’s case against 28 banks for running an alleged cartel in the foreign exchange market: the traders are accused of having colluded to “hold” the rand at R7.56 to the dollar.

In a week in which the rand was trading at a buoyant R18.23/$, some might welcome a touch of collusion. That’s assuming it would have any effect in a $15bn-a-day market — which is a big question. ..

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