Background:

Case dates back to alleged price-fixing between 2007–2013

Involves 28 local & foreign banks, including Standard Bank, Nedbank, and FirstRand

The Commission argues South Africa must be able to act against foreign firms impacting its economy

Banks deny wrongdoing, citing reputational damage

The Constitutional Court will hear arguments over four days, with the outcome set to determine the scope of South Africa’s competition law.

#RandFixing #CompetitionCommission #SouthAfricaNews #ForexManipulation #ConstitutionalCourt #banks

‘Rand-Fixing’: Banks Face Constitutional Court Over Currency Manipulation Allegations 20 August 2025

source

The post ‘Rand-Fixing’: Banks Face Constitutional Court Over Currency Manipulation Allegations 20 August 2025 appeared first on MDNtv.

Background:

Case dates back to alleged price-fixing between 2007–2013

Involves 28 local & foreign banks, including Standard Bank, Nedbank, and FirstRand

The Commission argues South Africa must be able to act against foreign firms impacting its economy

Banks deny wrongdoing, citing reputational damage

The Constitutional Court will hear arguments over four days, with the outcome set to determine the scope of South Africa’s competition law.

#RandFixing #CompetitionCommission #SouthAfricaNews #ForexManipulation #ConstitutionalCourt #banks

‘Rand-Fixing’: Banks Face Constitutional Court Over Currency Manipulation Allegations

source

The post ‘Rand-Fixing’: Banks Face Constitutional Court Over Currency Manipulation Allegations appeared first on MDNtv.