Twenty eight banks stand accused of illegally manipulating South Africa’s currency to make huge profits for themselves, to the detriment of the South African economy. We explore what we know so far, how banks could have manipulated the Rand, and how the plot has affected South Africa’s economy.
Find us elsewhere:
Spotify: https://open.spotify.com/show/0vShGF6TRYFdJJPgGiIwDS?si=7ce9cd3211ce4ce3
Apple: https://podcasts.apple.com/za/podcast/the-issue-with-dan-corder/id1715836732
Tiktok @dancorder
Twitter @theissuewith
Instagram @theissuewithdancorder
Inquiries: theissuewithdancorder@gmail.com
Sources:
https://www.news24.com/fin24/markets/rand-manipulation-competition-tribunal-includes-9-more-big-banks-rules-it-can-hear-case-20230330
https://businesstech.co.za/news/banking/677089/south-africas-big-banks-to-face-the-music-for-rand-manipulation/
https://www.moneyweb.co.za/news/south-africa/standard-chartered-settles-forex-rigging-case-after-eight-years-in-court/
https://www.dailymaverick.co.za/article/2023-11-15-standard-chartered-admits-to-rand-rigging-agrees-to-pay-fine-of-r42-7m/
https://www.iol.co.za/business-report/companies/standard-chartered-implicates-other-sa-banks-after-agreeing-to-settle-rand-manipulation-charges-683cea68-ad47-4137-a9fe-99d5a4552ef5
https://www.iol.co.za/news/politics/anc-wants-banks-implicated-in-rand-manipulation-to-be-charged-25a47801-3b12-4f1b-a000-05294281262e
https://www.iol.co.za/news/politics/ntshaveni-calls-for-consequences-against-banks-implicated-in-rand-manipulation-55231f26-28c1-493f-bda4-835edb5be380